Indonesia is drafting ambitious plans for building projects, from constructing 25 airports to new power plants, as the government seeks to stoke growth in Southeast Asia's largest economy, the country's planning minister said.[JAKARTA] Indonesia is drafting ambitious plans for building projects, from constructing 25 airports to new power plants, as the government seeks to stoke growth in Southeast Asia's largest economy, the country's planning minister said.
About 60 per cent of the spending will go toward transportation-related infrastructure, according to a draft of the plan seen by Bloomberg and verified by the ministry.Such spending would build on Indonesian President Joko Widodo's strategy of using infrastructure as a key plank to boost economic growth and spread wealth beyond the main island-powerhouse of Java, where the capital is located.
Several projects have been shelved or delayed, even as bodies including the World Bank have warned of a massive infrastructure gap limiting economic growth. The ministry is preparing final documents on the investment plan to present to the president for approval, a ministry spokesman said. According to the draft plan, about 17 per cent of the infrastructure spending will go toward energy, followed by 10 per cent for irrigation.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bumitama Agri Q1 profit tumbles 52.3% to 110.61b rupiahBUMITAMA Agri on Tuesday posted a 52.3 per cent slide in its first-quarter net profit to 110.61 billion rupiah (S$10.5 million), from 231.77 billion rupiah a year ago, on the back of decreasing average selling prices of crude palm oil (CPO) and higher expenses. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Danske Bank picks ex-ABN banker Vogelzang as CEO to rebuild trustDanske Bank hired ex-ABN AMRO banker Chris Vogelzang as its new chief executive on Friday as it wrestles to limit the fallout of its involvement ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US growth would have contracted without trillions in government, consumer debt: GundlachREUTERS: U.S. growth appears to be based 'exclusively' on government, corporate and mortgage debt and the economy would have contracted if the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
HDB loan, CPF usage rules shift to ‘having a home for life’Singaporeans can now tap on more of their Central Provident Fund (CPF) savings when opting to buy older properties. Starting today, those looking to buy homes will be able to use the maximum allowed funds from their CPF as long as the property's remaining lease can cover...
Source: thenewpaper - 🏆 7. / 63 Read more »
Vietnam denies having political prisoners, blasts Amnesty InternationalHANOI (BLOOMBERG) - Vietnam denied that it held any 'prisoners of conscience,' calling an Amnesty International report that said the Communist government is jailing more of its critics 'unfounded.'. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Mahathir, 93, admits having problems with gadgets, says youngsters embrace technology easilyPUTRAJAYA (THE STAR/ASIA NEWS NETWORK) - He owns a mobile phone but he does not understand how to use it, Malaysian Prime Minister Mahathir Mohamad admits.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Masters of puppets: Indonesia's 'Ondel-Ondel' kidsJAKARTA: Peeking through a slit in her giant puppet costume, Indonesian teen Juniarti is drenched in sweat as she moves stiffly under the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
At least 10 arrested as Indonesia tightens security ahead of election resultJAKARTA: Indonesia's counter-terrorism squad has rounded up at least 10 people suspected of planning attacks during next week's announcement of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Indonesia posts widest ever trade deficit in April[JAKARTA] Indonesia posted its widest monthly trade deficit in history in April as exports slumped, while the pace of fall in imports were slower than expected, data from the statistics bureau showed on Wednesday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Indonesia's new capital to be decided this year: ministerIndonesia will decide the site of its new capital this year with the aim of it being ready by 2024, a minister said Wednesday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
10 nabbed as Indonesia tightens security ahead of presidential race resultJAKARTA (REUTERS) - Indonesia's counter-terrorism squad has rounded up at least 10 people suspected of planning attacks during next week's announcement of the results of April's hotly contested presidential election, police said on Wednesday (May 15).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »