FINANCE MINISTER, US AMBASSADOR DISCUSS INVESTMENT

Jakarta, 29  Muharram 1436/22 November 2014 (MINA) – US Ambassador to Indonesia Robert O Blake has visited Finance Minister Bambang Brodjonegoro to discuss development of the country’s manufacturing sector.

The US  recommended acceleration of development of the infrastructure sector to boost investment in the manufacturing sector, Bambang said after the meeting  on Wednesday.

“They suggested development of the manufacturing sector is not only in Jakarta but also in various other areas,” he said, Antaranews quoted by Mi’raj Islamic News Agency (MINA) as reporting on Friday.

The US ambassador suggested that more US investors would be encouraged to do business in the country if infrastructure was adequately available.

“They first want  to  build infrastructure to cut logistic cost which too high in the country,” he said.

Previously, the minister received a call from Australian ambassador discussing similar issues.

British and Japanese ambassadors are also scheduled to call on the minister.

The investment sector is one of the major economic growth drivers expected by the government in 2015.

President Joko Widodo has pledged simplification of licensing procedure for foreign investors.

Meanwhile, the government has cut subsidies on consumptive sector. The subsidies  would be given for productive sector. The policy was expected  to give a fiscal space about $9 billion  to $11.5 billion  which would be used for infrastructure development.

Sea toll road project is one of the infrastructure projects  accelerated to cut logistic cost.

Sea toll road project will include revitalization of old ports and development of new ports and procurement of new ships to bring the eastern and western regions of the country closer.(T/P009/P3)

Mi’raj Islamic News Agency (MINA)