Indonesia says new sovereign wealth fund attracts USD10b commitment

On target: A worker walks on stacks of containers at the Tanjung Priok port in Jakarta. Indonesia expects its full-year 5% growth target to be achievable as the mass vaccination programme gives ‘hope and optimism.’ — Reuters

JAKARTA: Indonesia has received investment commitments of up to $10 billion from global firms for its ambitious sovereign wealth fund, a senior minister said on Tuesday, ahead of its launch expected this year.

The Indonesia Investment Authority (INA) aims to attract foreign funds as co-investors, unlike other sovereign wealth funds set up by more developed countries to manage oil revenues or foreign exchange reserves.