US Vice President Mike Pence yesterday announced US$10 billion in deals between US and Indonesian companies during a visit to Jakarta, as he pushed for greater access to Southeast Asia’s top economy.
Eleven deals were signed.
Energy firm Exxon Mobil Corp, General Electric Co and aerospace giant Lockheed Martin Corp were among the US companies involved in the agreements.
Photo: AFP
“These deals represent the tremendous excitement that American companies feel about opportunities in Indonesia,” Pence said.
Exxon Mobil is to sell liquefied natural gas to Indonesian state-owned energy company Pertamina, General Electric is to provide technology for Indonesian power plants, while Lockheed Martin is to provide new weapons systems for F-16 jets.
During the visit to Indonesia, his latest stop on an Asia tour, Pence has been pushing to help US firms who want to do business in Indonesia — one of several countries targeted by US President Donald Trump’s administration for running a trade surplus with the US.
During a meeting at a Jakarta hotel where the deals were announced, Pence told business leaders that he and Indonesian President Joko Widodo had “very candidly and very respectfully” discussed how to improve market access for US firms in Indonesia when they held talks.
Earlier on the visit, he said that Washington wanted to “break down barriers” for exporters seeking to enter the Indonesian market.
Indonesia has long been targeted by foreign investors, as it has enjoyed robust growth in recent years, driven by exports of its key commodities even as many developed countries have struggled.
The country of 255 million people is home to a rapidly growing middle class and an army of consumers whose spending power is increasing.
However, Indonesia can be a notoriously difficult place to do business due to nationalistic policies, complex bureaucracy and problems with corruption, and foreign firms have often run into trouble.
The latest example of a US company facing problems is a row between the Indonesian government and mining giant Freeport-McMoRan Copper-and-Gold Inc, which runs a huge gold and copper mine in Indonesia, after authorities demanded they obtain a new license to operate.
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