REPUBLIKA.CO.ID, BATAM -- Batam Management Board (BP Batam) said foreign direct investment in the island reached US$641 million in the first half of 2014.

The FDI included US$270.53 million by 72 new investors and the rest were investment for expansion by old investors in the island, BP Batam spokesman Dwi Djoko Wiwoho said here on Tuesday.

In the first quarter of this year, there 35 new foreign investors with investment totaling US$155.53 million.

In April , there were 15 more new foreign companies investing US$88.50 million in Batam, and a number of old companies invested US$49.5 million for expansion.

In May , there were 11 new companies investing US$11.85 million and spending for expansion totaled US$10.83 million by old investors.

In June 11 more new companies invested US$14.65 million with expansion spending totaling US$122.75 million.

"The number of investors and investment value increased significantly from the same period in 2013," Djoko said.

New investment in the first six months of this year reached US$77.28 million by 51 new foreign companies.

"The new investment rose 350 percent indicating that Batam remains an interesting place for foreign investors," he said.

BP Batam has set a target at US$350 million for new FDI and US$500 million for new investment commitment in 2014.

"We are confident the targets could be reached as in the first half of the year, new FDI already reached US$270 million," Djoko said.

He said conducive security is the key to success in attracting investment to Batam.

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