RI Investnment Forum To Be Held In Hong Kong

Jakarta, Oct 16 (Antara) - PowerPR and Investor Daily will hold the Indonesia Investment Forum in Hong Kong on November 6-7 and in New York in March 2014, an official said. "Indonesia has huge investment opportunities as a developing country. The government, businesses, and investors must make optimal use of the vast investment opportunities in the country," said Indonesia Investment Forum Chairman Christovita Wiloto on Tuesday. The organizers plan to make the forum a regular feature, he added. The forum will serve as a platform for discussing investment opportunities in Indonesia, he stated. It will initiate a dialogue between the Indonesian government, Indonesian corporations who want to attract investments, and global investors, he said. Meanwhile, the head of Investment Coordinating Board (BKPM), Mahendra Siregar has said Indonesia`s investment target for 2014 will be revised on account of continued deterioration of the global economic climate. The BKPM is targeting Rp390 trillion in investments by the end of 2013 and Rp506 trillion for 2014, Siregar stated. On October 3, Indonesian companies secured $32.8 billion in funds and investment from Chinese firms, deals for which were inked during a state visit by President Xi Jinping. On his maiden visit to the country, Xi became the first foreign leader to address Indonesian lawmakers in the parliament. The deals were negotiated by companies, including Indonesian state-owned firms and privately held Sinar Mas Group. The deals included a $1.8 billion loan to PT OKI Pulp & Paper Mills - an affiliate of Sinar Mas - to build a mill in Sumatra and funding for five Boeing 777-300 ER planes for PT Garuda Indonesia. Several Chinese companies also pledged to invest in Indonesia. These included the Hangzou Jinjian Group Co. Ltd, which plans to spend $600 million on a bauxite-processing complex there, according to the government official. Investment into the country is mostly coming in from large developed countries such as the U.S. and China. Despite slowing growth and an uncertain election season ahead, major U.S. companies are planning to substantially raise their investment in Southeast Asia`s largest economy. China hopes its trade with the 10-member Association of Southeast Asian Nations (ASEAN) will increase to $1 trillion by 2020, from $320 billion in 2012, ASEAN`s website quoted Xi as saying. A study of 35 of the largest U.S. investors in Indonesia, including Freeport-McMoRan, General Motors, GM, Cargill, Coca-Cola, and Chevron, shows plans for a combined investment here of about $61 billion over the next three to five years, compared with $65 billion spread over the past nine years. Christovita said, "This forum will be attended by approximately 50 Indonesia corporations and 50 Global Investors. There will be Public Expos of Indonesia State-Owned Enterprises, Indonesia Districts, and Cities. It will be very comprehensive for the first time." He added that the main purpose of the forum is to position Indonesia as a leading country of the world by creating a better understanding of business in Indonesia. This will generate interest among investors and increase the number of investors planning to make an investment in the country, he said.