By PNA / Xinhua and U.S. News Agency / Asian

Indonesian President Susilo Bambang Yudhoyono said on Tuesday that the government invited foreign governments and investors to take part in development of massive infrastructure in Southeast Asia’s largest economy.

Yudhoyono said that Indonesia needed over 250 billion U.S. dollars to finance its long term projects to build roads, railways, seaports and airports.

“Indonesia is open for the participation of foreign governments and investors to invest in our country,” said Yudhoyono in a speech at the Jakarta Convention Center here.

To facilitate the participation, the government has developed various modes of partnership, said Yudhoyono.

“We have developed a public-private partnership that is expected to help lure foreign investors to invest,” he said.

President Yudhoyono has targeted an annual economic growth average of 6.6 percent by the end of his term by 2014 through infrastructure construction to create more jobs.

For next year, Yudhoyono said that the government had set aside over 20 billion U.S. dollars for building infrastructure.

Indonesia regained its second credit rating upgrade to investment grade from Moody’s on Jan. 18, putting the country on the radar for global investors.

Indonesian economy expanded by 6.35 percent in the second quarter as growing investment and huge domestic consumption made up for decline in exports.