Tue, 11 Oct 2011
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono said that a number of private Slovakian companies want to invest US$1 billion in a number of business sectors in Indonesia.

In a joint press conference with Slovakian President Ivan Gasparovic here on Monday, Yudhoyono said that the Slovakian firms would cooperate with Indonesian counterparts in the development of cement factories in Central Java and West Papua.

Besides, the private companies of the two countries would also cooperate in the development of a tire factory in Tangerang, Banten and power plants in West Nusa Tenggara and Batam.

"In essence, we are encouraging the private sectors of the two countries to make use of the opportunities in Indonesia and in Slovakia," the president said.

The cooperation agreements between the private companies of the two countries are expected to be signed during a Slovakia-Indonesia Business Forum at the Ritz-Carlton Hotel here on Tuesday.

According to Chief Economic Minister Hatta Rajasa, there would be at least 11 agreements in several sectors to be concluded between the private sectors of the two countries. Business sectors of cooperation included food and petrochemicals.

One of the important sector of cooperation between a Slovakian firm and the Andalas University in West Sumatra was the development of wheat plantation in Indonesia, he said.

Hatta said that no Slovakian companies had previously made investment in Indonesia so that the conclusion of 11 agreements that would be signed on Tuesday was a breakthrough.

The chief economic minister said that the value of the two way trade betwee the two countries was still small, namely less than US$100 million.

He said that one of the reason of the Slovakian president to visit Indonesia with business delegation was that he was interested in the Master Plan for the Acceleration and Expansion of Indonesia`s Economic Development.



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