On a state visit to Russia, the President of Indonesia Susilo Bambang Yudhoyono met with the Alfa-Bank’s President Peter Aven.

Discussing the possibilities of expanding Russian-Indonesian economic cooperation, Peter Aven announced the intentions of the Alfa Group to invest in telecommunication and other sectors of Indonesian economy to the amount of up to $2 billion. The President of Indonesia welcomed this announcement and declared that this initiative will be backed by his government. President Yudhoyono has underlined that the expansion of cooperation between Russia and Indonesia, covering the whole spectrum of mutual interests, is in line with the intentions of both countries’ presidents.

“Russian companies have a chance to take a deserved place among major international investors, and we are not going to miss this opportunity. We believe that there is a huge potential for successful development of business for Russian companies in Indonesia in particular, and throughout the South-East Asia as well. Alfa-Group has extensive investment expertise in foreign telecom markets, in particular, the largest ever investment deal of Russian business with the purchase of shares in Turkcell, a Turkish telecom company. We have a clear intention to use our experience in Indonesia in a way that will promote strengthening of economic cooperation between our two countries”, said Alfa-Bank’s President Peter Aven.