Jakarta (ANTARA) - President Prabowo Subianto has welcomed South Korean corporation Daewoo Engineering and Construction's interest in investing in the oil and gas sector in Indonesia, saying it will open up job opportunities and increase economic turnover.
"Indonesia opens up opportunities as widely as possible for foreign investors who want to participate in national development, especially in the energy and construction sectors," he said at the 49th Indonesian Petroleum Association (IPA) Convention and Exhibition in Tangerang on Wednesday.
Following a meeting with representatives of Daewoo E&C at the Presidential Palace, Jakarta, Prabowo revealed the company's interest in investing up to US$1 billion in Indonesia.
He said that the Indonesian government is open to participation from various parties, regardless of the country of origin, to support national development and the optimal utilization of the country's energy potential.
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"We are very open to any party who wants to participate," he added.
The meeting between President Prabowo and Daewoo E&C was also aimed at strengthening cooperation between Indonesia and South Korea, especially in the real estate, construction, infrastructure, as well as oil and gas sectors.
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A follow-up seminar will be held in South Korea in November 2025 as part of the APEC series to further bolster cooperation.
