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Indonesia invites investors to take part in infrastructure projects

Xinhua, November 24, 2015 Adjust font size:

The Indonesian government invites investors to participate in infrastructure projects as the country requires much funding for the construction of the facilities, a minister said here on Tuesday.

State-Owned Enterprises Minister Rini Soemarno disclosed that Indonesia requires 5,000 trillion rupiah (some 364 billion U.S. dollars) funds to finance the huge infrastructure projects.

Minister Soemarno admitted that the country could not comply with all of the financing and expected some of them to be provided by investors.

"It means that we need to invite investors from overseas. Such funding could not be fully provided by the government," she said at Borobudur Hotel.

Foreign direct investment in Indonesia grew by 18.1 percent to 92.5 trillion rupiah (some 6.832 billion U.S. dollars) at the third quarter from a year earlier, steady from the 18.2 percent expansion at the second quarter, according to the country's Investment Coordinating Board.

Most of the foreign investment parked at the sectors of utility, mining and property, it has said.

For whole of this year, the board expects the total investment to reach 530 trillion rupiah (about 39.396 billion U.S. dollars), passing the target of 518.5 trillion rupiah (some 38.542 billion U.S. dollars).

Indonesian President Joko Widodo aims to build massive infrastructure projects to pursue over 7 percent economic growth at the end of his five-year term in 2019.

On Monday President Widodo designed ministers to deal with foreign countries insisting to invest in the Southeast Asia's biggest economy as he has issued a raft of stimulus packages policies including deregulation, tax incentives and other reforms, to lure investment and prop up the economy. Enditem