Word: djakarta
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...overwhelmed by the inter est foreign investors have shown in our country," said Surjo Sediono, a high of ficial of Indonesia's Foreign Investment Board. He describes 1967 as the "year of promotion," when Indonesians and potential foreign investors got acquaint ed, both in Djakarta and in Geneva, at a conference sponsored by Time Inc. last November. Courting private cap ital, the new regime has returned virtu ally all foreign properties seized by Sukarno, promised tax holidays and easy repatriation of profits to all newcomers...
Some 45 new investment projects have been approved, at least in principle, and within the past four weeks, 15 foreign banks have received the nod to open branches in Djakarta. They include the Bank of America, Chase Manhattan, First National City Bank and American Express. All expect to be open for business before the end of the year and capable of financing foreign ventures on the spot...
...Nickel just got the go-ahead to start a $1,500,000 survey of nickel deposits on the island of Sulawesi (Celebes), and may invest $100 million. Bethlehem Steel has expressed interest in tin deposits, Boise Cascade in logging concessions. ITT agreed to build a satellite relay station near Djakarta at a cost...
Holland's huge Philips' Gloeilampen-fabrieken is returning to Indonesia and investing $6,000,000 in a joint venture with the government. British-American Tobacco will operate a cigarette factory in Djakarta, while Belgium's Faroka will make cigarettes in Malang. Scores of smaller ventures from candy to pearl culture have signed up. "The important thing," says Sediono, "is getting the first company to come in. Then competitors want to follow. For example, Philips' of Holland came in and now Siemens of Germany is interested...
...Suharto discussed Viet Nam with visiting Vice President Hubert Humphrey in Djakarta last week. Contrary to initial reports, he did not offer to mediate the war, nor did Humphrey...