INDONESIA AND US INK 20 BLN USD IN INVESTMENT DEALS

Bilateral meeting between Jokowi and Obama

Washington, 15 Muharram 1437/28 October 2015 (MINA) – Indonesia and the United States on Tuesday signed agreements valued at 20.075 billion US dollars investment on energy, transportation, water conservation and Islamic banking, Foreign Minister Retno L.P. Marsudi said.

At a press conference at the Blair House in Washington on Sunday night, Marsudi said that the cooperation with 19 companies in various sectors will amount to US$20 billion.

President Joko Widodo witnessed the signing carried out prior to discussion with US chamber of commerce in Washington D.C., Mi’raj Islamic News Agency (MINA) quoted Antara News aas reporting on Tuesday.

Also signed on the occasion a deal of four infrastructure projects valued at over $1 billion. Three of the projects will be in the power sector and contribute an estimated 3 GW in capacity towards the country’s plan to provide more than 35 GW of additional power by 2019.

The fourth project will provide maintenance services for 50 locomotives in PT Kereta Api Indonesia’s (PT KAI) rail fleet.

President Widodo has launched a raft of stimulus packages since September, including acceleration and simplification on investment licensing through deregulations.

Indonesia has attempted to simplify process of investment licensing, combat graft and conduct other reforms to lure foreign investment. (T/R07/R01)

Mi’aj Islamic News Agency (MINA)