Minister Luhut Secures Massive Investment

Summary

The Indonesia and the United States (US) governments signed a Memorandum of Understanding (MoU) on infrastructure and trade funding worth US$750 million or around Rp 10.5 trillion. The value was bigger than that of the previous agreement at US$500 million in 2017-2018.

The signing is part of the Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan’s agenda during his visit to the US this week. "The MoU will further strengthen the RI-US economic partnership in an attempt to expand the investment cooperation and good and service procurement," the Indonesian ambassador to the US, Muhammad Lutfi, revealed in a press release on Thursday (11/19).

Meanwhile, the president of the US EXIM Bank, Kimberly Reed, said that the MoU showed Indonesia’s importance to the US Government. In the future, the MoU will allow Indonesia and the US to work together in the good and service procurement for government projects.

The agreement will also open up many business opportunities in the infrastructure, transportation, energy, mining supply chain infrastructure, environment, communication and information technology, safety and security, health services, and geospatial information sectors.

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