Indonesia province invites investments

Mangalore, Feb 8 (UNI) Aceh Province in Indonesia holds vast potential for investments from India and Daxina Kannada in particular in the areas of agro-industry and machinery and for technology transfer, Province Vice Governor Muhammad Nazar has said.

Speaking at an interaction session with members of Kanara Chamber of Commerce and Industry (KCCI), CAMPCO and Mangalore Chemicals and Fertilizers (MCF) here last night, Mr Nazar said the province, hit badly by the 2004 Tsunami, was a major producer of plantation crops such as Coffee, Cocoa, Rubber and Palm Oil.

Though the province had raw processing units, it was lacking refining units for which it required technology.

He invited investments from Daxina Kannada Region for putting up units for which the province was ready to provide all necessary help. Aceh also had huge potential in tourism and mining, he said while iniviting entrepreneurs to visit the province and work for sustainable business cooperation.

"India has the skills and expertise which can be utilised in our province by your investments for the mutual benefit of the two regions in promoting export-import activities," he said.

The Investment Outreach Office (IOO) established in 2006 on the initiative of key stakeholders, including the Governor's office of Aceh, today provided services to more than 20 foreign and local investors.

As much as 60 per cent of the coffee and tea produced in Aceh was purchased by Starbucks.

Aceh was also the largest producer of Arabica with a annual production of 20,000 tonne of Arabica coffee.

Cocoa was one of the most important commodities prioritised by local government of the province which produces around 12,200 tonne in about 30,000 hectare.

International Financial Corporation (IFC) Programme Manager Graham Harris said the province had underwent great changes in the last 12 months.

A total of five billion US Dollar had been spent on rehabilitation and development of infrastructure and over 5,000 shelters built for those who lost homes due to Tsunami.

UNI MA GM 2010