JAKARTA, Jan 26 — Indonesia has lured investments of about US$10 billion (RM40.5 billion) for its first sovereign wealth fund expected to launch later this year, a minister said today.

The commitments include an informal letter of interest for up to US$2 billion from the Caisse de Depot et Placement du Quebec, a Canadian pension fund, and as much as US$1.5 billion from Dutch pension fund APG, Indonesia’s economic affairs minister Airlangga Hartarto said in a presentation.

Since the middle of last year, the government has met with more than 50 global investors, Hartarto told an online business forum, with Indonesia targeting some US$20 billion in commitments.

Officials are reportedly now considering candidates to head the fund.

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Indonesia’s leader Joko Widodo has said he will focus his second term on attracting more foreign investment to South-east Asia’s biggest economy and sustaining a multi-billion-dollar infrastructure drive.

One of the infrastructure projects involves moving the capital from overcrowded Jakarta to a new city on Borneo island. — AFP