resident Joko “Jokowi” Widodo’s ambitious infrastructure development program seems to match China’s huge appetite for expanding investment through the latter’s One Belt One Road (OBOR) initiative.
Struggling with a limited state budget, the current administration will rely heavily on support from foreign and domestic investors to cover 60 percent of the total budget, which stands at around Rp 4.7 quadrillion (US$353.3 billion), for its planned infrastructure projects until 2019.
Thus, the best recipe for success is enticing those with the deepest pockets to pour their money into the country.
Entering the second half of its term, President Joko “Jokowi” Widodo’s administration is offering more than $28 billion worth of projects in three provinces to attract money from China, the world’s second-largest economy, which has been aggressively putting efforts into expanding its global economic and political influence.
The infrastructure projects span a wide range, including airport, port, industrial and tourism facilities, among others, and all are integrated, National Development Planning Board (Bappenas) head Bambang Brodjonegoro said on Tuesday.
The projects are located in North Sumatra, North Sulawesi, and North Kalimantan — the last two provinces have close proximities to the South China Sea, an area that has become the subject of prolonged territorial disputes among surrounding nations, including China.
“We have a national interest in developing industry and tourism in these regions with the support of reliable infrastructure,” Bambang said.
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