Indonesia targets $150 billion in investments for the next 5 years

Fri, 04 February 2011

The Jakarta Post 

Industry Minister MS Hidayat said the government expected to grab investments totaling US$150 billion to accelerate development in a number of areas.

“[The meeting] was about investments. We want $150 billion in investments,” the minister said after attending a Cabinet meeting at the Presidential office in Jakarta on Friday, as quoted by Antara.

He added that the investments would be used to develop, among other things, the country’s agricultural, mining and industrial sectors.

Separately, Investment Coordinating Board (BKPM) head Gita Wirjawan said $50 billion of the investment target was expected to come from local investors and the remaining $100 billion from foreigner investors.

He added that the target was expected to be met in five years at the latest, and that it would cover developments in western, central and eastern Indonesia.

Gita identified Japan as a potential investor of $59 billion of the targeted funds, India $15 billion, South Korea $15 billion, France $4 billion and Russia $2 billion.