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op executives from major US firms met with President Joko '€œJokowi'€ Widodo on Tuesday as they assured that their investment commitments to Indonesia remained intact, even as the economy was growing at a six-year low and some investors had begun to lose faith in the government'€™s ability to deliver reforms.

US Ambassador to Indonesia Robert Blake led the delegation of executives from 10 US multinational firms, namely Coca-Cola ASEAN president Iain McLaughlin, General Electric (GE) ASEAN CEO Stuart Dean, Intel Southeast Asia managing director Prakash Mallya, Procter & Gamble (P&G) Asia president Hatsunori Kiriyama, among others.

Indonesia remained '€œa very, very positive place to invest for the US business community'€, Marc Mealy, vice president of the US-ASEAN business council, told reporters after his one-hour meeting with the President and top economic ministers.

Indonesia'€™s gross domestic product (GDP) growth slowed to 4.7 percent in the first quarter this year, the lowest level in six years, as restrained consumption and sluggish realization of government spending dragged down the economy.

'€œI think global companies understand that the business cycle around the world is changing and the slowing economy does not necessarily have any kind of negative impact,'€ said Mealy.

'€œI can tell you that many economies in the world have been growing a bit slower this year, including the American economy.'€

He said that US firms, instead of reducing foreign direct investment (FDI) in Indonesia, were now exploring the possibility of pouring more money into the archipelago'€™s infrastructure projects, from roads to electricity, as well as the healthcare and technology sectors.

Infrastructure is the key focus of the new administration, as bottlenecks have hindered the country from unlocking its economic growth potential that could top 7 percent a year '€” Jokowi'€™s target during his five-year presidency.

But the Rp 290 trillion capital expenditure (capex) plan laid out in the state budget '€” which includes spending for infrastructure projects '€” had been met with skepticism after government data showed that the budget disbursement rate for capex funds for the 10 ministries with the biggest fund allocations stood at only 2.8 percent as of April 28.

When asked about the sluggish realization of economic progress during the Jokowi government, which has led to disappointment among some global investors, Mealy argued that the President should be given more time.

'€œThe administration has been in place for less than a year; we understand that there can be difficulties in implementing many other kinds of policies or reform initiatives that were talked about during the campaign,'€ said Mealy.

The US is the fifth-biggest investor in Indonesia, with American companies realizing investment of US$292.1 million in the first three months this year, data from the Investment Coordinating Board (BKPM) shows.

BKPM chairman Franky Sibarani, who also attended the meeting with executives from US firms at the State Palace, said that executives from certain American firms had expressed interest to be included in the government'€™s ambitious 35,000-megawatt (MW) power plant development project, as well as its agriculture industry.

For the development of the power plants, the President wished to see the US companies to promote renewable resources and environmentally friendly technology, according to Franky.

'€œThe US is among investors who really understand business principles in Indonesia, so we are ready to give them the necessary support,'€ said the BKPM chairman, adding that he was open to the possibility of granting tax allowances or other incentive facilities to the US firms, if the conditions were met.