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Jakarta, CNBC Indonesia – President Joko Widodo (Jokowi) committed to launching a sovereign fund (SWF) appointed Indonesian Investment Authority (INA) early next year.
INA is an investment management institution (LPI) that will manage investment funds, including infrastructure. Jokowi even emphasized that there are up to 5 countries that are already interested in investing in INA.
“Now several countries have expressed interest, including the US, Japan, United Arab Emirates, Saudi Arabia and Canada,” explained Jokowi when he opened the 2021 Indonesian Economic Outlook, which was witnessed at the Kempinski Hotel, on Tuesday (22 / 12/2020).
“In early 2021 we will launch it SWF Sovereign wealth fund called INA, Indonesian Investment Authority, ”said the former mayor of Solo.
Jokowi confirm, presence SWF This will be a new source of financing for the future development of Indonesia, so it is not only based on loans, but can be in the form of equity or shares.
The impact will be to nurture the Indonesian economy, state enterprises, especially the infrastructure and energy sectors.
“And under circumstances pandemic Thus, we must all be able to act quickly, strengthen cooperation and synergy. I am optimistic that we will revive the economy and return to normality, “said the former governor. DKI This Jakarta.
Previously, the sources CNBC Indonesia has whispered that a global pension fund, one of the largest, is ready to enter, namely the Canada Pension Plan Investment Board (CPPIB).
Marves Coordinating Minister Luhut Pandjaitan also confirmed the news. It revealed that the Canadian funds were worth up to $ 2 billion. “Our SWF received $ 2 billion from Canada. They got engaged yesterday,” Luhut said.
In an official statement to CNBC International via emailCanada’s largest pension fund plans to invest up to a third of its managed funds in investment instruments in emerging markets over the next 5 years.
CPPIB manages funds of around C $ 434.4 billion or the equivalent of US $ 329.75 billion (IDR 4617 trillion, exchange rate of IDR 14,000 / US $).
Most of its investment is in North America, about 34% of total assets allocated in the United States, followed by Asia.
“We expect to invest up to a third of the fund [kelolaan kami] in emerging markets by 2025 and India will be a key component of [investasi] that, “Suyi Kim, director of CPPIB Asia Pacific, told CNBC International by email last September.
Based on documents received by the Ministry of BUMN CNBC Indonesia stated that the presence of the Indonesian Investment Authority is important for Indonesia to make a breakthrough in inviting foreign investment.
LPI that later called INA, this is an Indonesian legal entity that is wholly owned by the Indonesian government. LPI obtained an initial capital backing of IDR 15 trillion or equivalent to about US $ 1 billion.
Capital compliance LPI it will be rolled out gradually until it reaches IDR 75 trillion or the equivalent of US $ 5 billion by 2021, as indicated in PP. 74 of 2020.
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