Three Foreign Investors Close Due to Global Crisis

Batam City

Three foreign investors in Batam Riau Islands province closed since 2010 due to global crisis.

"This year there has been no closure. But years ago there," said Director of Relations Community Concession Board (BP) of Batam Free Trade Zone and Free Port of Batam Dwi Djoko Wiwoho.

Data from BP of Batam Free Trade Zone to mention three of these investors are, PT Rokko Sakti Indonesia and PT South Island that closed in 2010, then Produo Mandiri PT closed on 2011.

In addition to the company, BP of Batam Free Trade Zone of ​​the seven also revoke approval of foreign investment during the period 2010-2011. A total of seven closed in 2010 and three more in 2011.

Revocation with a variety of reasons, usually because there is no production orders.

Sony Chemicals Indonesia, PT Minamoto Indonesia, PT Batam Nastec closed in 2010 because there is no order, while PT FMC Batam and PT Asiatech Entity Indonesia closed in 2011 for the same reasons.

Meanwhile, Casio Selectronics Indonesia closed in 2010 due to losses. BP Batam also noted PT Uni Metal Tech Industry engaged in metal stamping and industrial enterprises were closed for the entire mechanical assembly ownership of foreign shares to domestic buyers.

On the other hand, there are few industries that actually have a positive impact of the global crisis.

Deputy Director General for Economic and Monetary Bank of Indonesia Batam Office, Uzersyah, said several electronics companies have an abundance of ordered items from European countries who are unable to fill orders.

Some European manufacturers, he said, unable to meet orders due to the crisis, so the buyer divert orders to factories in Batam.source