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Indonesian leader issues foreign investment call

Published on Sep 8, 2012 1:09 PM

VLADIVOSTOK, Russia (AFP) - Indonesia's leader on Saturday invited foreign investors to help fund a huge development plan that Jakarta projects will require US$500 billion (S$622.6 billion) in investments by 2025.

Mr Susilo Bambang Yudhoyono issued the call during a speech to global business executives in the Russian port of Vladivostok ahead of an annual Asia Pacific economic summit that he will host next year.

The necessary investments will go toward projects relating to infrastructure development, food, energy, and science and technology, Mr Yudhoyono said.

"In the years and decades ahead, we are embarking on a massive development initiative," said Mr Yudhoyono, who was to meet with other leaders from the 21-member Asia Pacific Economic Cooperation (Apec) bloc for a two-day summit opening on Saturday.

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