Shinsei Bank to Fund Investment in Indonesia

Indonesia Finance

Friday, 17 February 2012 19:16

Written by Hans GN

JAKARTA, Indonesia Today - Shinsei Bank Ltd, the fifth largest bank in Japan, intends to fund the investment of Japanese companies operated in Indonesia, Kontan.co.id reported.

Hitomi Sato, Head of Institutional Group Senior Managing Executive Officer at Shinsei Bank Ltd, the bank will in near term discuss about the investment in Indonesia with banking regulator.

He said Shinsei Bank aims to fund some projects of Japanese companies in Indonesia such as heavy equipment industry.

"Along with the financing, Shinsei Bank will build leasing company in Indonesia which focuses on corporates clients," Sato said in a meeting with Industry Minister today (Feb 17).

Shinsei Bank is among Japanese private companies that visit Indonesia today, led by Taiju Research Institute.

Yoshinari Yajima, chairman of Taiju Research Institute, reveals that Japan is committed to improve cooperation through Indonesia-Japan Economic Partnership Agreement (IJEPA). "We propose to goverment of Japan to make some changes on policies as set on the agreementn," he said.

Yajima urges Japan to increase investment in Indonesia and simplify the incoming of Indonesian labor to Japan as well as provide a longer stay period.

Based on data from Industry Ministry, Indonesia's export of industrial products to Japan reached US$9.25 billion in January-September 2011 period. While Indonesia's import of industrial products from Japan total US$17.7 billion for the period. (hans@theindonesiatoday.com)

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