JAKARTA (REUTERS) - Monash University has won approval to set up the first foreign university campus in Indonesia, the Australian institution said on Monday (Feb 10), as Southeast Asia's biggest economy moves to free up areas of restricted investment.

Indonesia has a big and young population, but the OECD grouping of rich nations says just about 16 per cent of its young adults have attained a tertiary education.

President Joko Widodo signed a free trade deal with Prime Minister Scott Morrison in Australia's capital of Canberra after the parliaments of both countries ratified the pact.