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Shift in Bali Investments from Tourism to Retail

Local Investment Board Chief Measures New Directions in Island's Investment Climate.

(9/13/2004) IGA Djanawati, the Chairman of the Bali Investment Coordinating Board (BKPMD), recently presented statistics on changes in investment applications in Bali dating from the Bali bombing of October 2002.

Applications for new investments have undergone a shift, with commercial and retail applications pushing tourism investments from the top spot in Bali.

Djanawati detailed what he sees potentially positive impacts of the change in composition of new investments, citing how foreign investors can now better help local craftsmen make and market products sought in the international marketplace.

New investment projects approved by both the central and provincial Investment Coordinating Board through July 2004 totaled 83 projects. 77 (92.8%) of these new projects were from foreign investors with the remaining 6 from domestically-based capitalists. Total value of the new projects is Rp. 2.117 trillion (approximately US$ 241.7 million).

Of the new investment projects, 35 (42.2%) were manufacturing/retail based with a value of Rp. 435.04 billion (Approximately US$ 48.3 million).

Tourism investments numbered 31 or 37.4% of all new investments projects on the island.