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**JAKARTA, May 10 (APD) – ** Indonesia expects to get tens billion U.S dollars of investments from the upcoming China-initiated One Belt One Road (OBOR) Summit slated from May 14 to 15 in Beijing, which would be attended by President Joko Widodo.
Head of Indonesia’s Investment Coordination Agency (BKPM) Thomas Trikasih
Lembong said the largest chunk of fresh investments gained from the summit is expected from China with lesser slices from several financier agencies which would send their representatives to the event.
Thomas said fresh investments under China’ OBOR initiative are direly needed to finance the nation’s massive infrastructure projects carried out across the country at present.
Besides infrastructure, government would also promote transportation, industrial zones, energy and tourism sectors which investors can benefit from through their investments in Indonesia.
On Friday this week, related ministers in the cabinet would select Indonesia’s prioritized areas to be offered for the investors in OBOR Summit before the president’s departure to Beijing on Saturday, Thomas said.
Twenty eight state and government leaders were confirmed to attend the summit, reports said.
“Government would pick two or three priority areas, whose total investments may reach tens of billions U.S Dollars that would be offered in the summit,” Thomas said recently in the presidential palace.
Investors would be required to partake in government’s infrastructure projects in the prioritized areas under particular schemes, he added.
Indonesia only gets below 5 billion U.S. Dollars of Chinese OBOR investments from the high-speed railway train project connecting Jakarta to Bandung and fund assistances from China Development Bank (CBD) to state-run banks.
The Indonesia’s OBOR investment figure was far below the ones obtained by Pakistan and Malaysia that stood at 55 billion and 32 billion U.S. Dollars respectively, reports said.
According to data released by BKPM, China’s materialized investments in Indonesia stood at 2.65 billion U.S. Dollars, accounted for 9.15 percent from 28.96 billion U.S. Dollars of Indonesia’s overall foreign materialized investments last year.
Released in 2013, OBOR is China’s initiative to revive the ancient Silk Road trade lines in modern era, highlighting connectivity and cooperation among 60 countries passed by the OBOR lanes.
Infrastructure projects to assure well connectivity carried out in each countries affected by the initiative was regarded the largest in modern history.
Reports said up to 500 billion U.S.
Dollars were required to finance those projects.
(ASIA PACIFIC DAILY)
