US says Indonesia foregoing billions of dollars in investment

Jakarta

INDONESIA is foregoing billions of dollars on offer from American companies eager to invest in South-east Asia's biggest economy, US Ambassador to Indonesia Joseph Donovan said.

As the US tries to arrest a deteriorating trade balance with Indonesia, which last year found itself in President Donald Trump's cross-hairs, Mr Donovan has also rejected complaints of increasing American protectionism. Indonesia had made significant progress on macroeconomic stability, improving the business environment, education and infrastructure, yet more must be done to encourage trade as well as foreign investment, he said.