Japanese auto maker Toyota will invest an additional 5.4 trillion rupiah (approximately 400 million USD) in Indonesia this year, according to Indonesian industry minister Saleh Husin.
Jakarta (VNA) – Japanese auto maker Toyota will invest an additional 5.4 trillion rupiah (approximately 400 million USD) in Indonesia this year, acco🍃rding to Indonesian industry minister Saleh Husin.
The minister revealed the information on February 19. The day before, he had a meeting with Toyota Vice Chairman Seiichi Sudo in Nagoya, Japan.
Saleh Husin said the expansion reflected foreign investors’ confidence in business prospects in Indonesia.
He asked Toyota to raise its output to meet the demand of more than 250 million Indonesians, with 74 million of whom in the middle income group.
Toyota holds around 32 percent of the automobile market in Indonesia. The maker has plans to invest 20 trillion rupiah in the Southeast Asian island country between 2015 and 2019.
As of the end of 2014, the Japanese company poured a total of 40 trillion rupiah in Indonesia.
It is building an engine factory in Karawang, West Java.-VNA
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Hilux model of Toyota (Source: Internet)
