During our interaction, sundarpichai and I spoke about the new work culture that is emerging in the times of COVID We discussed the challenges the global pandemic has brought to areas such as sports. We also talked about the importance of data security and cyber safety. These investments will be made through a mix of equity investments, partnerships, operations, infrastructure and ecosystem investments.
Where will the investment go and how will international infrastructure players participate? President Joko Widodo understands the link between infrastructure investment and economic growth.
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This year, his government announced an even more ambitious plan for to Twenty-five new airports are in the pipeline, as are power plants, waste-to-energy facilities and lots of mass transit projects. The plans also include developing the groundwork for a new capital city. Enhancing existing value It's not all big-ticket items.
In fact, much of the infrastructure plan focuses on enhancing the value of the assets created in that first round of investments. Utomo notes, many of Indonesia's urban areas suffer from growing congestion and connectivity challenges.
- Compared to the construction of traditional infrastructure in the wake of the global financial crisis, the stimulus package is much more reliant on market forces and private investment.
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Much of the investment will go towards creating new mass transit options and improving the efficiency of existing services. Much of the investment will go towards creating new mass transit options and improving the efficiency of existing options.
A bigger role for private players Initial plans anticipate that about 40 percent of the funding will come directly from the government while around a quarter will come from various state-owned enterprises. The government is hoping to encourage the private sector to invest the remaining 35 percent. Some will be going towards improving the country's overall energy capacity and diversifying its mix. They also allow the country to achieve energy security and diversify our energy sources.
Making investment easier Beyond simply announcing a massive pipeline, the government of Indonesia is also working hard to create the right environment to attract investment. Reducing regulation has been a key priority for this government.
Improving capacity and creating a track record At the same time, the government is also focusing on improving the quality of the projects it is bringing to market. A pool of funds has been set aside for enhancing the quality of project preparation.
And a new team has been created to help identify and clear roadblocks in the development and implementation process. Utomo also notes that more capacity building will be required at the local and regional level, particularly in key growth markets.
For example, new investment projects on the internet 2020 of Indonesia's 12 Special Economic Zones are operated by local government and private companies.
These players often require additional support to meet the needs of international investors. The country's debt ratings have been upgraded to investment grade.
International rankings of national ease of doing business and competitiveness also show remarkable improvements in Indonesia's business and investment environment.
But the government is taking the right steps to deliver on it. Footnotes: Indonesia president pledges more infrastructure, investment in second term Ibid Conversations with international investors suggest that we are on the right track towards creating a very welcoming investment climate for foreign investors.
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