Indonesian President-Elect Looks to Malaysia for Infrastructure Investment

Indonesia 25 Aug 2014
Indonesian President-Elect Looks to Malaysia for Infrastructure Investment

Indonesian president-elect Joko Widodo has invited Malaysian businessmen to invest infrastructure which have been identified as the core areas of growth under his leadership.

He said Indonesia needed massive investment and if domestic capital was not sufficient then Indonesia would need to look for investors abroad including Malaysia.

The president-elect pointed out that construction of Jakarta’s RM4.43bil mass rapid transit system has started after decades of delay. Officials reportedly broke ground on the 15.7km elevated and subterranean railway in November 2013, with completion targeted for 2017.
Construction Workers inspect part of the Jakarta MTR line

Construction Workers inspect part of the Jakarta MTR line

The project is being built largely by a consortium of Indonesian and Japanese companies, to alleviate gridlock in the heart of a greater metro area of almost 30 million people. It had been in the planning stages for more than 20 years, according to reports.

Hinting that Malaysian businessmen should look beyond oil palm plantations, Jokowi said Indonesia welcomed Malaysian investment in infrastructure.

“At the same time, more investments and attention will be channelled into infrastructure development. This can be done by utilising the savings from fuel subsidy reductions”.

He said it was his task as the incoming president to balance out these pressures, adding that “my commitment to the Indonesian people is to create economic growth and employment”.

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