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Indonesia to set up $5 bln sovereign wealth fund soon -finmin

JAKARTA, Oct 7 (Reuters) - Indonesia is preparing to set up a sovereign wealth fund with an initial equity of about $5 billion, which would be aimed to attract $15 billion in investment, its finance minister Sri Mulyani Indrawati said in a news conference on Wednesday.

The government would inject up to 30 trillion rupiah ($2.04 billion) in cash for its equity and added other assets, including stakes in state companies, Sri Mulyani said.

The formation of the fund follows the passage of the government’s sweeping Job Creation bill.

$1 = 14,690.0000 rupiah Reporting by Maikel Jefriando, Gayatri Suroyo and Bernadette Christina Munthe, editing by Louise Heavens

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