Indonesian Investment Minister Bahlil Lahadalia held a meeting with the ASEAN Business Advisory Council (BAC) Malaysia at the Jakarta Mulia Hotel, on the sidelines of the series of ASEAN Summit events. One of the topics of the discussion discussion was Malaysian investors’ concerns over finding trustworthy partners in Indonesia.
“I am pleased that we could have a light discussion as countries that share ancestry,” Bahlil said in his statement on Wednesday, September 6, 2023.
As a former businessman, Bahlil claimed he understood the concerns. “So Indonesia is making regulations that any investor coming here is required to collaborate with local partners,” he said.
The local partners, however, are professionals who have met the predetermined requirements. Bahlil suggested that would-be investors ask for the recommended partners from the government or the Indonesian Chamber of Commerce and Industry (Kadin).
“So don’t be afraid to partner with local business players in Indonesia. I will definitely help provide the best recommendations,” the minister remarked.
Chairman of ASEAN-BAC Malaysia Tan Sri Nazir Razak said Malaysian businessmen are quite interested in investment opportunities in Indonesia and hoped that the discussion could be resumed at the next meeting in Kuala Lumpur.
“We also see more and more investment interest in Indonesia since President Jokowi’s leadership. That’s why we are here today to hear directly from you about existing investment opportunities in Indonesia,” said Tan Sri Nazir Razak before Minister Bahlil.
According to data from the Investment Coordinating Board (BKPM) from 2019 to the first semester of 2023, Malaysia is the fifth country with the highest investment value in Indonesia with a total investment of US$10.4 billion dominated by the transportation and warehousing sector, followed by the chemical industry, food industry, food crops, plantations and livestock, as well as the paper and printing industry.