Sun, 31 Jan 2010
PROJECT TALKS: Emaar is to hold talks with Investment Coordinating Board (BKPM) chairman Gita Wirjawan over plans for a resort at Lombok. (Getty Images)

The Indonesian government’s investment agency is planning to mount a charm offensive in the Middle East to encourage more money from the region, it has been reported.

Investment Coordinating Board (BKPM) chairman Gita Wirjawan is flying to Dubai this week to meet a range of potential “general investors" in the emirate, Doha and a stop in India.

“This is our chance to diversify our investors, which currently are still Asia-based, like South Korea, Taiwan and Japan,” he said in comments published by Jakarta Globe.

Related: Emaar eyes talks over $600m island resort
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“Investors from the Middle East are very promising because they are more willing to take risks. European and American investors demand more certainty, but these Middle Eastern ones are more daring. But we would still have to give them assurances, of course,” he said.

His visit to Dubai on Monday will include a meeting with Emaar Properties to try to hammer out a last-minute deal over a $600 million resort project on Lombok.

“My visit to Dubai on Monday is not just to discuss the Lombok issue with Emaar, but also for other reasons, including an invitation by the investor in the East Kutai project,” he told the paper.

The East Kutai project is a coal-mining joint venture with Dubai’s MEC Holdings and the Ras Al Khaimah Investment Authority.

Gita said he would also explore the possibility of opening a BKPM branch office there, most likely in Dubai.



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