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Jakarta Post

Indonesia to sign $750 million MoU with US EXIM

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, October 26, 2020   /   03:23 pm
Indonesia to sign $750 million MoU with US EXIM Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan. (Coordinating Maritime Affairs and Investment Ministry/Coordinating Maritime Affairs and Investment Ministry)

Indonesia announced on Sunday that it will explore an investment opportunity of up to US$750 million with the Export-Import Bank of the United States (EXIM).

For the investment, Indonesia and EXIM will hold an official signing of a memorandum of understanding (MoU) in the near future, according to a press release.

“We welcome the proposed MOU and would like to see more investment and participation of US businesses in our infrastructure, energy, transportation and telecommunication projects," said Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan in the statement.

EXIM president and chairman Kimberly A. Reed said the investment opportunity could include wireless communications technology such as 4G+ or 5G, as well as health care, broadcasting and other options that could be supported with US goods and services.

“EXIM is committed to enhancing the economic cooperation between our two countries, and the MoU will affirm our commitment to diverse potential projects in Indonesia,” she said.

“We intend to work together to promote investment and business development opportunities, leading to potential benefits for the US and Indonesian workers and businesses.”

The US delegates also participated in the Entrepreneurship Roundtable with the Indonesian Chamber of Commerce and Industry (Kadin), focusing on areas of economic opportunity, and held meetings with Bank Indonesia and the Communications and Information Ministry.

The agreement took place as part of a trade engagement trip by a United States delegation to the Indo-Pacific region. It will visit Indonesia, Vietnam and Myanmar.

Earlier this year, EXIM met with representatives from the Association of Southeast Asian Nations, discussing ways to further export US goods and services to the region. They also underscored the role of EXIM in US$110 billion infrastructure development in the region. (eyc)