Indonesia to sign $15bn in deals with India

Indonesian President Susilo Bambang Yudhoyono said Monday he hoped to help secure lucrative investment deals worth $15 billion on a trip to India this week. The two sides are expected to sign memoranda of understanding at a business forum on Tuesday to be attended by 500 Indian and Indonesian entrepreneurs, Yudhoyono told reporters in Jakarta ahead of his trip. “The investment value is $15 billion, which includes cooperation in infrastructure, manufacturing, natural resources and services,” he added. Yudhoyono said trade volume between the two countries had tripled from $4 billion in 2005 to $12 billion in 2010. Indonesia plans to spend $140 billion until 2014 on improving its poor infrastructure and reaching an economic growth target of seven percent. Of the total, the government has said it aims to attract $90 billion from private investors. – Yahoo News