Jokowi plans US$6b port expansion

Jakarta

INDONESIAN President Joko Widodo is targeting almost US$6 billion in projects to expand ports across the world's biggest archipelago, where investors are deterred by logistics costs that amount to a quarter of the economy.

Mr Joko plans to expand five ports on the nation's main islands, seeking to reduce shipping delays and boost trade in a country that would stretch from New York to London, Coordinating Minister for Maritime Affairs Indroyono Soesilo said this week. The government will also cut red tape that keeps yachts and cruise liners away, he said.