Sunday, 23 September 2018 | 16:56 WIB

Investments of IORA Member Countries Rise 13.4 Percent

Head of Investment Coordinating Board Thomas Lembong (Strait Times)

JAKARTA, NETRALNEWS.COM - According to record by the Investment Coordinating Board (BKPM), investments made by the member countries of the Indian Ocean Rim Association (IORA) go up by an average of 13.4 percent in the last five years.

BKPM Head Thomas “Tom” Trikasih Lembong said positive investment trends throughout 2012-2016 showed an ever-increasing South-South economic cooperation.

"During the period a lot of investment happening from rich countries to developing countries, but with growing development of services and financial sectors amid developing and poor countries then this would encourage investments among emerging countries," Thomas said in remarks published on Monday (3/6/2017).

BKPM recorded positive trend of investment from IORA countries mainly contributed by the tertiary sectors. 

In 2016, an investment from IORA member countries reached 21.6 percent with an investment value of $11.67 billion compared with previous year's investment of $9.5 billion.

Tom added the top five major contributors of investment realization coming from IORA countries are Singapore, Malaysia, Mauritius, Australia and Thailand.

"We hope that other IORA member countries could increasingly raise investments among member countries so as to strengthen South-South cooperation," he said.

Tom explained investments from IORA member countries showed a quite positive uptrend in the period of 2012-2016.

In 2012 the investments of IORA countries reached $7.5 billion, which then fell to $6.6 billion in 2013.

In 2014, the value went up back to $9.2 billion and edged up to $9.5 billion in 2015. Then, in 2016, the figure rose to $11.6 billion dollars.

"In future, we hope investment contribution from IORA countries could continue to rise," said Tom.

Tom added IORA becomes special because participation of emerging countries is so great.

There are 21 countries that are IORA members including Australia, Bangladesh, Comoros, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Mauritius, Mozambique, Oman, Seychelles, Singapore, Somalia, South Africa, Sri Lanka, Tanzania, Thailand, United Arab Emirates and Yemen.

Indonesia is to host the IORA Summit to be held on March 5-7, 2017 at the Jakarta Convention Center, wherein Indonesia becomes the Chair of IORA for the period of 2015-2017. (*)