Japan plans to invest $5.6 billion in Indonesia

ABS-CBN News

Posted at Mar 26 2015 01:10 PM | Updated as of Mar 26 2015 09:10 PM

JAKARTA - Japanese companies will invest $5.6 billion in Indonesia, following President Joko Widodo's visit to Tokyo, the head of Indonesia's investment board said.

Toyota Motor will invest $1.6 billion while Suzuki Motor will increase its planned investment by $1 billion, Franky Sibarani, chairman of the Investment Coordinating Board, said in a press release on Thursday, without giving a timeline.

Southeast Asia's largest economy also attracted $3 billion in Japanese commitments for other industries including textiles, steel, fisheries and power, Sibarani said, adding that the commitments will be realised this year.