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Jakarta Post

IMF-World Bank meetings boost investment climate: Senior minister

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, December 20, 2018   /   10:55 am
IMF-World Bank meetings boost investment climate: Senior minister World Bank president Jim Yong Kim (left to right), International Monetary Fund managing director Christine Lagarde, 2018 IMF-World Bank meetings chairman and Coordinating Maritime Affairs Minister Luhut Pandjaitan, Finance Minister Sri Mulyani Indrawati and Bank Indonesia Governor Perry Warjiyo laugh as they link arms during the closing ceremony of the event in Nusa Dua, Bali, in October. (The Jakarta Post/Wendra Ajistyatama)

Coordinating Maritime Affairs Minister Luhut Pandjaitan has claimed that the International Monetary Fund (IMF)-World Bank (WB) Annual Meetings in October in Bali have helped the country boost its investment climate.

Luhut said both the IMF and the World Bank had given the “highest recommendations” to investors about the investment climate in Indonesia when they spoke in several international meetings including the APEC meeting in Papua New Guinea in November.

“As the trust is built, it’s not going to be too difficult for us to seek investors,” Luhut, who chaired the national organizing committee, said in a press conference, recently.

“I was also at an international meeting in South Korea recently and heard that Hyundai Motor announced its maiden electric vehicle investment plan in Indonesia,” the minister said.

Luhut further explained that some Taiwanese corporations such as Chinese Petroleum Corporation (CPC) Taiwan and a major assembler of Apple iPhones Pegatron planned to relocate their plants to the country.

Meanwhile, National Development Planning Minister Bambang Brodjonegoro said 14 Indonesian state-owned companies had signed an agreement worth Rp 202 trillion after the event.

Moreover, the ministry’s non-state budget infrastructure funding (PINA) program had received investment worth Rp 47 trillion, he added.

The IMF-World Bank Annual Meeting was attended by a number of heads of state, finance ministers, central bank governors and various organizations as well as business communities.

During the event, the government promoted investment opportunities, mostly infrastructure projects, to potential investors from across the world. (das/bbn)