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KOMPAS.com – A senior minister has confirmed that several international investors have expressed interest to invest their funds in the newly-established Indonesia Investment Authority (INA). The total investment is estimated to have reached about $9.5 billion.

Coordinating Economic Affairs Minister Airlangga Hartarto argued that the economic recovery has influenced the investors to place their funds in the INA.

Under its recovery programs, Indonesia implements the Covid-19 jab drive and provide business incentives to grow the economy.

Meanwhile, as the Covid-19 caseload continues to climb, Jakarta City Administration extended partial lockdown, also known as large-scale social restrictions (PSBB) for another two weeks to February 22.

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Indonesia Investment Authority to Receive $9.5 Billion from Foreign Investors

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.

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 to grow the economy.

Source: https://go.kompas.com/read/2021/02/08/164745674/indonesia-investment-authority-to-receive-95-billion-from-foreign-investors