Minister Luhut, Erick Thohir Meet Japanese Investors to Promote SWF

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Laila Afifa

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  • TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan today, Dec. 3, along with State-owned Enterprises Minister Erick Thohir met with a number of Japanese entrepreneurs to explore cooperation with the Sovereign Wealth Fund (SWF) of Indonesia, that was established through the Job Creation Omnibus Law.

    Both ministers met with Hiroshie Seko, secretary-general of Liberal Democratic Party/ Former Economy, Trade & Industry Minister of Japan. The purpose of the meeting was to introduce SWF, dubbed the Nusantara Investment Authority (NIA) which was formed with an initial capital of $5 billion or 522 billion yen.

    Luhut said he intended to invite Japan to increase its investment through SWF. “NIA will provide flexibility for investors in investing their equity or asset with transparent and professional management,” he said.

    Meanwhile, Erick Thohir hoped SWF would be able to be a partner for foreign investors to invest their money in attractive and priority sectors in Indonesia, namely toll road, airport, and port. “We want the value in SOE assets to be optimized.”

    Luhut and Erick also met with Japan’s well-known conglomerates, such as CEO & ED Mitsui & Co, Mitsubishi Corp Chairman, and Sojitz Corp CEO, as stated by Indonesian Embassy in Tokyo (KBRI ToKyo) webpage. The Japanese government and businesses welcomed the initiative of the Nusantara Investment Authority Flag of Indonesia.

    Indonesian Ambassador to Japan Heri Akhmad earlier stated that Luhut’s visit to Japan was a follow up to the agreement signed by President Joko Widodo and Japanese PM in Bogor on October 20, 2020.

    The Indonesian government hopes SWF will improve the investment climate, the development of state assets, and support national development, especially the national priority projects.

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