Sabtu 22 Apr 2017 00:15 WIB

Pence brings $10 billion investment agreement during official visit

Red: Reiny Dwinanda
U.S. Vice President Michael Pence gives a remark in the Business Leaders and Commercial Deal Signing, Jakarta, Friday (April 21).
Foto: Antara/Rosa Panggabean
U.S. Vice President Michael Pence gives a remark in the Business Leaders and Commercial Deal Signing, Jakarta, Friday (April 21).

REPUBLIKA.CO..ID, JAKARTA -- The U.S. and Indonesian business sectors agreed on investment proposals worth more than US$10 billion during U.S. Vice President Michael Pence's visit to Indonesia on April 20 and 21.

"This agreement reflects how great the American companies' interest in investing in Indonesia is," Pence said in his address at Hotel Shangrila here on Friday.

During the visit, the two countries signed 11 business agreements, which are mostly related to information technology and energy, including oil, gas and renewable energy.

Pence and Indonesian Vice President Jusuf Kalla witnessed the signing of the newest Memorandums of Understanding (MoU), including those between Pertamina and Exxon Mobil for an LNG project worth US$6 billion, and those between Perusahaan Listrik Negara (PLN) and Pacific Infra Capital for the development of electricity generator turbines worth US$2 billion in Java and Bali.