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Jakarta, CNBC Indonesia – The Coordinating Minister for Maritime Affairs and Investments, Luhut Binsar Pandjaitan, met with the Chief Executive Officer (CEO) of the United States International Development Finance Corporation (IDFC) Adam S. Boehler in Jakarta on Friday (10/23). Adam was accompanied by the US Ambassador to Indonesia, Sung Yong Kim.
US IDFC is an investment finance institution established under the mandate of the United States (US) Congress that focuses on investing in developing countries.
This is Adam’s second visit to Indonesia. Last January, in addition to meeting with Luhut’s coordinating minister, Adam was also received by President Joko Widodo. This visit specifically discussed investment opportunities in the Indonesian Sovereign Wealth Fund (SWF) which will be formed after the existence of a government regulation stemming from the related Employment Creation Law.
SWF Indonesia is claimed to be an important instrument for infrastructure development in Indonesia. SWF’s presence will further strengthen the transparency of infrastructure asset management in Indonesia in a professional manner and in accordance with international good practice.
International financial investment institutions such as the Abu Dhabi Investment Authority (ADIA), the US IDFC, the Japan Bank for International Cooperation (JBIC) are among those involved in the development consulting process of the Indonesian sovereign wealth fund framework.
During the meeting, Luhut promoted the recently enacted Employment Creation Law. It states that one of the spirits of the Job Creation Act is to improve the climate for investing and doing business in Indonesia while still prioritizing the protection of the environment and ensuring the protection of workers. He added that the transparency of the licenses will also become clearer with the existence of the single online filing (OSS).
“Environmental sustainability is an integral part of risk-based licensing. For risky companies, an Amdal (environmental impact analysis) must be issued before a business license is required to start business operations. Risk-based licenses increase the ease of doing business while maintaining the environment, “Luhut said. official, Friday (23/10).
Previously, IDFC and the government had discussed various projects such as LRT, Trans Java, Trans Sumatra, tourism, hydropower in North Kalimantan, and renewable energy projects. In addition to the Coordinating Minister of Luhut, Adam will also meet with the Minister of Foreign Affairs and the Minister of BUMN.
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