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Indonesia looks abroad to lure investment
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National Development Planning Minister Bambang Brodjonegoro (Antara/Audy Alwi)
T
he government is courting foreign investors in a bid to lure investment to fuel its infrastructure development program, given the state budget's limited capability to fund President Joko “Jokowi” Widodo’s ambitious infrastructure projects.
National Development Planning Minister Bambang Brodjonegoro, who recently embarked on a roadshow to the United Kingdom, Australia and Ireland to pitch for investment in infrastructure facilities, said many investors were interested in investing in Indonesia, but those who had never invested in Indonesia were taking their time to assess risk in the country.
“There is interest [from investors] but most have never invested in Indonesia, so they need time to assess the project’s pipeline as well as investment schemes,” he said in Jakarta on Wednesday.
From the trip, Bambang targeted up to US$3 billion in investment commitment, Bloomberg reports.
“Now we are following up [with the investors] so that they understand the risks and potential in Indonesia,” he added.
He said the projects he offered to investors were toll roads, power plants, airports and seaports, which are suited for private investment.
The government is seeking to attract private investors as it pledges to build numerous infrastructure facilities worth Rp 4.7 quadrillion ($341.59 billion) until 2019, of which only up to 40 percent will be funded by the state budget and the rest will rely on investment from state-owned enterprises as well as the private sector. (bbn)
