Kuwait to invest $150 million in Indonesia

A Kuwaiti governmental and business delegation visited Indonesia recently and pledged to invest between US$ 100 million and US$ 150 million in the country, Indonesia foreign minister Alwi Shihab said on Thursday.

Indonesian news agency quoted Shihab as saying the European Union was considering to increase the quota for Indonesian textile exports to its member countries.

"This indicates that they want to see our textile exports grow, so that we can earn more foreign exchange," he said.

In addition, he said, Malaysia, Singapore and Britain had expressed their support to Indonesia's economic recovery program.

He said a delegation of Malaysian state officials would visit Indonesia next April 26-27 to discuss investment possibilities.

Brunei Darussalam, Iran and Singapore also intended to send economic delegations to Indonesia to follow up on the results of previous talks on investment possibilities in Indonesia, the minister said.

"All of this indicates the mission president Abdurrahman Wahid performed during his overseas journeys is beginning to bear fruit," Shihab said.