U.S. Says Indonesia Is Foregoing Billions of Dollars in Investment
- Call for more market access as U.S. trade position worsens
- U.S. not in competition with China over FDI, ambassador says
This article is for subscribers only.
Indonesia is forgoing billions of dollars on offer from American companies eager to invest in Southeast Asia’s biggest economy, U.S. Ambassador to Indonesia Joseph Donovan said.
As the U.S. tries to arrest a deteriorating trade balance with Indonesia, which last year found itself in President Donald Trump’s cross-hairs, Donovan has also rejected complaints of increasing American protectionism. Indonesia had made significant progress on macroeconomic stability, improving the business environment, education and infrastructure, yet more must be done to encourage trade as well as foreign investment, he said.