December 5, 2020, 01.03 AM

JAKARTA, KOMPAS.com – Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan has invited Japan to be one of the investors in the country’s much-anticipated sovereign wealth fund (SWF) to be named Nusantara Investment Authority (NIA).

This invitation has been extended to Izumi Hiroto, special advisor to Japan’s prime minister, on a working visit to Tokyo.

“The goal of State-Owned Enterprises Minister Erick Thohir and I is to invite Japan to increase their investment through the SWF institution which is stipulated by the Omnibus Law,” Luhut said in a statement on Thursday, December 3.

“The Nusantara Investment Authority (NIA) will provide flexibility for investors to invest in equity or assets with a transparent and professional management,” Luhut added.

Also read: Indonesia to Establish Sovereign Wealth Fund Soon

Minister Erick, who is accompanying Luhut during the working visit, also offers government projects that are attractive for investment in Indonesia.

“We hope this SWF can become the partner for foreign investors to invest in attractive and priority sectors in Indonesia, including toll roads, airports, and seaports. We want the value of assets owned by the state firms to reach a maximum level,” Erick said.

Meanwhile, Izumi said that Japan has pledged to participate in Indonesia’s SWF. Accompanying him during the meeting was Governor of Japan Bank of International Cooperation (JBIC) Maeda Tadashi and Japan’s Ambassador to Indonesia Kanasugi Kenji.

Indonesia’s Ambassador to Japan Heri Akhmadi said Japanese companies are eyeing several projects in Indonesia.

Also read: Indonesias Sovereign Wealth Fund to Attract $6 Billion Investment This Year: Senior Minister

“In general, Japan supports the establishment of SWF in Indonesia. Several Japanese business communities have expressed interest in participating in the development of health tourism in Bali, port operator management, and increasing investment in the Batang Industrial Estate,” said Heri.

Before the meeting with the advisor to Japan’s prime minister, Luhut and Erick met with the Secretary-General of the Liberal Democratic Party (LDP) who is also the country’s former Minister of Economy, Trade and Industry Seko Hiroshige.

The Indonesian delegation has also held a series of meetings with Japanese business leaders, including Mitsui & Co, Mitsubishi Corp, Sojitz, Nippon Steel, and Hanwa.

It was reported that Indonesia has set its target to establish NIA in early 2021 to speed up the country’s economic recovery. The government would inject an initial capital of 75 trillion rupiahs ($5 billion) for the establishment of the NIA.

(Writer: Ade Miranti Karunia | Editor: Bambang P. Jatmiko)

Source: https://money.kompas.com/read/2020/12/04/052200726/luhut-dan-erick-bujuk-jepang-untuk-suntik-dana-di-lembaga-pengelola-investasi.

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