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Jakarta, CNBC Indonesia – The coordinating minister for Maritime Affairs and Investments, Luhut B. Pandjaitan, revealed the investment commitment of the governor of the Japan Bank for International Cooperation (JBIC) MAEDA Tadashi for the establishment of a Sovereign Wealth Fund (SWF) or ‘endowment fund ‘ In Indonesia.
“JBIC is ready to back SWF Indonesia’s funding of $ 4 billion (Rs 57 trillion), double what was transmitted by the United States’ International Development Finance Corporation (DFC), a US financial institution. United, “Luhut said in a statement on Friday (12/4).
Luhut, accompanied by BUMN Minister Erick Thohir and Indonesian Ambassador to Japan Heri Akhmadi, continued their visit to Tokyo on Friday (12/4) and held a marathon meeting with the JBIC Governor and no less than others. 20 potential Japanese investors in the financial and energy sector.
“JBIC will become one of the financial institutions participating in SWF’s main Indonesian fund called Nusantara Investment Authority (NIA). The support of JBIC and the Japanese government will undoubtedly strengthen the strategic partnership between Indonesia and Japan, attracting every again to other Japanese private sectors to invest in Indonesia, “said Heri Akhmadi.
The commitment conveyed by the Governor of JBIC will be immediately followed up on a technical level and it is expected that the JBIC investment can begin to enter Indonesia in the first quarter of 2021.
“The Government Regulation (PP) regulating SWF Indonesia will be completed in mid-December and of course the PP will certainly accelerate the formation of an endowment fund institution in Indonesia,” Erick said.
Luhut and Erick are scheduled to go directly to Abu Dhabi and Saudi Arabia on Saturday (5/12) to explore supporting the formation of the NIA with other related parties.
On separate occasions, Luhut and Erick met with the Japanese Minister of Economy, Trade and Industry (METI), Kajiyama Hiroshi. Luhut emphasized the Indonesian Government’s commitment to continue to provide legal certainty for Japanese investors.
“With the Omnibus Law on Employment Creation Law, of course, Indonesia’s tax regulations will improve,” Luhut said.
Coordinating Minister Luhut also outlined a series of strategic agendas for bilateral cooperation, including Japan’s commitment to carry out Phase 2 (two) of the MRT Jakarta on time.
The climate change agenda was also discussed at the meeting. Japan hopes that Indonesia can support Japan’s goal of achieving “Carbon Neutral” by 2050.
“We are ready to support the achievement of Indonesia’s SDGs through Japanese technology. The Carbon Capture Storage project being built in Gundih, Central Java, is a form of Japanese engagement,” said Kajiyama.
[Gambas:Video CNBC]
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