We keep monitoring INA. What has it done in terms of master agreement, head of agreement, and so on.
Jakarta (ANTARA) - Vice Finance Minister Suahasil Nazara is sanguine about the Indonesia Investment Authority (INA) becoming a catalyst for large investment.

"We keep monitoring the INA. What has it done in terms of the master agreement, head of agreement, and so on," Nazara stated at the BNI Investor Daily Summit 2022 here on Wednesday.

The government has injected an initial capital of US$5 billion into the INA.

In the early days of its establishment, the investment management institution had secured commitments of up to US$25 billion from investment partners.

So far, the INA has acquired two assets: a section of the Trans Java toll road and investment in Indonesia's largest online travel agent (OTA) through a private debt deal.


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The INA will continue to focus on realizing investment with an estimated total pipeline of up to US$2.6 billion in 2022 in various sectors, including several thematic investment strategies.

The Finance Ministry reported that as of August 22, 2022, the INA has signed one master agreement, two heads of agreement, seven letters of intent (LoIs), two binding offers, one conditional sales purchase agreements (CSPA), and 74 non-disclosure agreements (NDA) with state-owned companies, prospective investors, legal advisers, and banks.

Nazara said the establishment of INA has contributed to the progress in the implementation of the Job Creation Law that the government enacted in 2020.

"We do not forget reforms in this Job Creation Law that revises 79 laws," he stated.

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Apart from the INA, the other forms of progress achieved in the implementation of the Job Creation Law include the online single submission (OSS), institutional improvement through the creation of the investment ministry, revision of taxation rules, establishment of four special economic zones, and positive list of investment to boost priority sectors.


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Translator: Agatha Olivia V, Suharto
Editor: Fardah Assegaf
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