A`lian investors interested in building retirement village in Bali

Some Australian investors hoped that they needed some 25 hectares of land on which to realize their project, Minister Counsellor at the Indonesian Consulate General Jahar Gustom said here Sunday.

According to Gultom, the investors of the retirement village were still negotiating their plan with the Karangasem district administration.

"Many Australian investors are waiting for an opportunity to do business in Bali, but they had problems in obtaining land," he said.

The Australian entrepreneurs` hope grew after the Indonesian Consulate General held an annual Indonesian festival starting in 2005, he said. Bilateral trade between Indonesia and the Australian

State of Victoria also increased following the annual Indonesian trade exhibitions.