Global Biz

7 US firms to operate in Indonesia: minister

(Xinhua)
Updated: 2010-01-25 19:17

JAKARTA: Indonesian Industrial Minister Muhammad S. Hidayat said here on Monday that at least seven major US firms have pledged their readiness to commence their operation in Indonesia in the near future, Antara news agency reported.

Those firms were the prominent names in their respective businesses, comprised of Caterpillar, Ford Motor Company, The Dow Chemical Company, Cargill, General Electric Company, Monsanto and News Corporation, the agency said.

Speaking on the sidelines of receiving 60 businessmen joined in US-ASEAN Business Council here, the minister said that their pledges to expand their operation in Indonesia resulted from the council members' previous meetings in Boston, the United States, and during the conduction of the recent Asia Pacific Economic (APEC) summit held in Singapore.

The minister, however, declined to go into details on the value of investments pledged by these firms.

Citing to the results of his meeting with the businessmen, Hidayat said that the US businessmen wanted Indonesia to respect content of contracts established with those firms and possible long-term contracts possibly set up during their operation in the country.

US-ASEAN Business Council President Alexander C. Feldman confirmed the minister's statement, saying that further talks on more US investments in Indonesia would be discussed during President Barrack Obama's visit to Indonesia scheduled between June to July this year.