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February 8, 2021, 04.47 PM

JAKARTA, – Various international investors have expressed interest to invest their funds in Indonesia Investment Authority (INA) by sending a letter of intent (LoI), a senior minister said on Monday.

“The accumulated amount from the LoI reached $9.5 billion,” said Coordinating Economic Affairs Minister Airlangga Hartarto during an event titled Indonesian Economic Outlook 2021 on February 8.

Airlangga said the institutions are the United States International Development Finance Corporation (DFC), Japan Bank for International Cooperation (JBIC), Caisse de dépôt et placement du Québec (CDPQ) Canada, and the Dutch asset management company APG-Netherlands.

Also readIndonesia Seeks Japan Investment in Sovereign Wealth Fund

The interest of the aforementioned financial institutions is in line with the national investment climate that began to improve following Law No. 11/2020 on Job Creation.

Currently, Airlangga said, the government is finalizing the laws’ derivative regulations comprising 49 drafts of government regulations and five presidential regulations.

“All the regulations will become a guideline for the implementation of the Job Creation Law for all stakeholders,” he added.

Besides, the process of accelerating economic recovery has influenced the investors to place their funds in INA. It includes various activities from the implementation of Covid-19 jab drive to providing business incentives n a bid to grow the economy.

Also readJokowi Signs Government Regulation on Indonesian Sovereign Wealth Fund

“In line with the world economic recovery, the economy in Indonesia is expected to recover in 2021, reaching 4.5 to 5.5 percent,” the senior minister said.

It was reported that the newly-established INA aims to manage the investment, which is expected to obtain about $15 billion, up from the institution's initial funds of $5 billion prepared by the government.



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