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Economics & Finance

Indonesia and the Middle East

Indonesia’s efforts to attract Middle East capital have been ‘reasonably successful,’ says Tanri Abeng, former state enterprises minister.

He says he himself led a delegation to the region earlier this year which generated some three billion dollars in direct investment into his country.

Abeng, the chairman of PT Telekomunikasi’s supervisory board, says the telco is also looking to expand in the Middle East but has not yet found the ‘right entry’ or opportunity.

“We have been enjoying very healthy growth domestically but once you reach a certain level of penetration you do need to look at opportunities outside Indonesia, and the Middle East is one area we’re looking at, although we have not been able to find the right entry.”

“Telkom has got all the capacity in terms of capital and know-how so we are just waiting for opportunities.”

The telco has reportedly been preparing some 500 million dollars in proceeds for its expansion.

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