Indonesia remains favorite investment destination for Hong Kong companies

Indonesia is the favorite investment destination for Hong Kong companies, an official with the Hong Kong Special Administrative Region (SAR) told Xinhua on Tuesday.

"Indonesia remains the favorite investment destination for us. And, according to the UN's data, Hong Kong's investment ranked seventh in Indonesia in 2007 with total investment 259 million U.S. dollars, increased from 170 million USD in 2004," said Raymond Yip, the Assistant Executive Director of the Hong Kong Trade Development Council (HKTDC), adding that until now, Hong Kong's investment keeps flowing to Indonesia.

He took example of the Sun International's investment at Indonesia's PT Gold Track, a mining company, in November 2008 and Lung Cheong, a toy manufacture that acquired an Indonesian company a few years ago.

Source: Xinhua