November 17, 2020, 10.30 PM

JAKARTA, KOMPAS.com – The Indonesian government will receive funds from foreign investors in the United States, Abu Dhabi, and Riyadh as the country will soon establish its sovereign wealth funds next year.

Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan said on Tuesday that the funds will go to the fund which will be called the Indonesia Investment Authority (LPI).

“This year alone, we will get $5-$6 billion. But, we hope to receive more as Blackstone Group Inc [US private equity firm], BlackRock [the world’s largest asset manager] are interested to join,” Luhut said in a broadcast message on the sidelines of his working visit to the US on Tuesday, November 17.

Also readLuhut Panjaitan: Indonesian SMEs are the Backbone of National Economy

“We also hope that the International Development Finance Corporation [IDFC] will inject their funds,” he added.

He said that the Indonesian government and representatives from Blackstone Group Inc, BlackRock Investment, and IDFC will hold a meeting in the White House, Washington DC Wednesday, November 18.

The government, Luhut said, hopes to collect $50 billion-$60 billion for the country’s sovereign wealth fund by 2021.

In two years, the total fund collected by the Indonesian government could reach $300 billion, he said.

Also readJokowi Optimistic Indonesian Economy Will Grow in 2021 Despite Covid-19

Luhut explained that the funds will be used for the government projects in six different sectors, including health, agriculture, infrastructure, and energy.

Page:


Latest Video Video Lainnya >

Recommendation
Comment wisely and responsibly. Comments are entirely the responsibility of the commentator as regulated in the ITE Law
Report
Thank You! We have received your report. We will remove comments that conflict with the Community Guidelines and the ITE Law.

More Headlines

News
November 24, 2022, 05.14 PM

Malaysia: Opposition Leader Anwar Ibrahim Named PM

News
November 18, 2022, 10.31 PM

Indonesia Reports over 6,600 Daily Covid-19 Cases

News
November 18, 2022, 09.57 PM

6.9-Magnitude Quake Strikes Off Western Indonesia

Business
November 17, 2022, 05.34 PM

Indonesia, China Renew Economic and Trade Expansion Pact

Close Ads