Lupa Kata Sandi? Klik di Sini

atau Masuk melalui

Belum Memiliki Akun Daftar di Sini


atau Daftar melalui

Sudah Memiliki Akun Masuk di Sini

Konfirmasi Email

Kami telah mengirimkan link aktivasi melalui email ke rudihamdani@gmail.com.

Klik link aktivasi dan dapatkan akses membaca 2 artikel gratis non Laput di koran dan Majalah Tempo

Jika Anda tidak menerima email,
Kirimkan Lagi Sekarang

Indonesia-UAE`s SWF to be Used for New Capital City Development

Translator

Antara

6 October 2019 10:00 WIB

The design of the Field and Monument of Pancasila for the Ideas, Plans and Criteria Designs of the Capital City. Photo: The Public Works and Public Housing Ministry

TEMPO.CO, Jakarta - The sovereign wealth fund (SWF) to shortly be established by Indonesia and the United Arab Emirates (UAE) can be utilized for infrastructure development, including those in Indonesia’s new planned capital city, a senior minister stated.

The SWF scheme will serve as a government-owned private equity that can be used as investment, especially for infrastructure development, Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan remarked in Jakarta on Friday night.

"The scheme, if approved, will be a form of government-owned private equity. It could serve as national reserves. It can also be used to develop new capital," he stated.

The SWF will lower the burden of the state budget and accelerate the implementation of projects, he noted.

He affirmed that both nations will shortly finalize a plan for the SWF scheme.

A team of UAE officials will pay a visit to Indonesia next week to meet with their Indonesian counterparts to finalize the plan. On the similar lines, Indonesian Finance Minister Sri Mulyani will also fly to Abu Dhabi for finalization of the plan.

Pandjaitan pointed out that the infrastructure project financing scheme using SWF is not something new in the world. Several nations, such as Singapore, India, Egypt, Norway, and China, have adopted the concept.

The minister made assurance that the SWF, serving as a pool for financing infrastructure, including those in the new capital, will not encounter a problem.

"The SWF is also our money, (so it will not be a problem)," he stated.

He noted that not only the UAE but also the US International Development Finance Corporation (IDFC) is tapping the possibility of setting up SWF with Indonesia.

IDFC is tasked with offering foreign aid through the funding of private development projects.

ANTARA



Defining Precisely What is 'Downstream' Activity for Indonesia?

8 jam lalu

Defining Precisely What is 'Downstream' Activity for Indonesia?

Indonesia must prioritize expanded downstream policies in natural resource sectors with a bigger impact on small businesses, the environment, etc.


Today's Top 3 News: List of Countries That Do Not Recognize Israel

8 jam lalu

Today's Top 3 News: List of Countries That Do Not Recognize Israel

Here is the list of the top 3 news on Tempo English today.


Hong Kong Promotes Muslim-friendly Tourism to Attract Indonesian Visitors

14 jam lalu

Hong Kong Promotes Muslim-friendly Tourism to Attract Indonesian Visitors

Hong Kong is one of the go-to travel destinations for tourists from Indonesia.


Indonesia Still Attractive To Investors Amid Leadership Transition: Report

20 jam lalu

Indonesia Still Attractive To Investors Amid Leadership Transition: Report

Indonesia remains attractive to foreign investors amid the government's leadership transition, Antara news agency cited a recent report.


Indonesia Commits to Strengthening Concrete Cooperation with Melanesian Spearhead Group

1 hari lalu

Indonesia Commits to Strengthening Concrete Cooperation with Melanesian Spearhead Group

Indonesia reaffirms its commitment to strengthen concrete cooperation with the Melanesian Spearhead Group (MSG).


Indonesia, Cambodia Eye Potential Infrastructure Cooperation

2 hari lalu

Indonesia, Cambodia Eye Potential Infrastructure Cooperation

This year marks the 65th anniversary of diplomatic relations between Indonesia and Cambodia.


Indonesia Punishes 240 Civil Servants Who Violated Neutrality in Elections

3 hari lalu

Indonesia Punishes 240 Civil Servants Who Violated Neutrality in Elections

The Indonesian government has sanctioned a total of 240 civil servants found violating their commitments to neutrality during 2024 general election.


Indonesia Holds Meeting with World Water Council to Discuss 10th WWF Readiness

3 hari lalu

Indonesia Holds Meeting with World Water Council to Discuss 10th WWF Readiness

Indonesia held a meeting with World Water Council president to discuss the Indonesian government's readiness to host the 10th WWF


Indonesia Announces 14 New National Strategic Projects

3 hari lalu

Indonesia Announces 14 New National Strategic Projects

The Indonesian Government has determined 14 new national strategic projects in a bid to actualize equitable development in the country.


Vietnam, Indonesia to Strengthen Economic Partnership Through Cutting-edge Technology Mastery

3 hari lalu

Vietnam, Indonesia to Strengthen Economic Partnership Through Cutting-edge Technology Mastery

Indonesia and Vietnam have planned to strengthen strategic economic partnerships through the mastery of cutting-edge technology.