Many global investors want to cooperate with INA: Sri Mulyani

Many global investors want to cooperate with INA: Sri Mulyani

Minister of Finance Sri Mulyani Indrawati, as a guest speaker at the Jakarta Foreign Correspondents Club Event, which was held virtually, Thursday (11/2/2021). ANTARA / HO-Ministry of Finance / pri.

Jakarta (ANTARA) - Finance Minister Sri Mulyani Indrawati highlighted the interest of several global investment and fund managers to work with the Indonesia Investment Authority (INA) or Indonesian Investment Management Institution (LPI) even before the institution officially operates.

During a press conference at the Presidential Office, Jakarta, Tuesday, the minister noted that several investment managers had also sent an official letter to her and State-Owned Enterprises Minister Erick Thohir, who had expressed interest in working together, with specific investment offers to INA.

"This illustrates that the potential is very large. Now, we are following up with this board of directors. Of course, we hope that Ridha (INA's president director), and all directors will follow up on these interests,” Indrawati, concurrently chairman of the INA Supervisory Board, noted.

President Joko Widodo, on Tuesday, announced the members of the INA Board of Directors, led by President Director Ridha Wirakusumah.

INA has received the government funding of Rp15 trillion in the 2020 State Budget and an additional Rp15 trillion this year. The INA also received Rp45 trillion in the form of share transfer this year.

The initial capital of Rp75 trillion by the end of this year will be utilized by the INA to initiate cooperation in gathering investment and finding partners. The INA seeks cooperation and investment with partners for development in Indonesia and not seeking loan funds.

"They (investors) invest together with us. This is a way for us to be less dependent on leverage or loans. Hence, since we are together investing, it definitely requires a very detailed process," she stated.

The minister was reluctant to reveal which investor entities are already interested in INA. The chairman of the INA Supervisory Board then revealed that INA's key focus at this time was to follow up on the investment cooperation offer while building a professional INA institution with integrity.

"Our focus now is to build a complete house but also prepare transactions and speak about detailed techniques with funds have expressed their very serious interest. That is our job today," the former World Bank managing director stated.
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