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Saudi Investors Briefed on Vast Opportunities in Indonesia

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Indonesian Consul General Eko Hartono stated that the meeting was aimed at further strengthening investment cooperation between Indonesia and Saudi Arabia. (Foto:
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JEDDAH – The vast invest opportunities in Indonesia were unveiled in front of Saudi businessmen at an investor meet hosted by the Indonesian Consulate General (KJRI) at its premises in Jeddah on Wednesday, March 31.

Addressing the session, Indonesian Consul General Eko Hartono stated that the meeting was aimed at further strengthening investment cooperation between Indonesia and Saudi Arabia.

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As many as 15 prominent businessmen and investors from various regions of the Kingdom attended the event while officials of the Investment Service and One Stop Integrated Services (PMPTSP) from East Java, West Java, and Jambi Provinces of Indonesia joined the session remotely.

“I see that Saudi Arabia’s investment potential abroad is enormous. Saudis have enormous funds that we should make optimum use of for the development of Indonesia,” Hartono said in his introductory remarks.

“The flow of Saudi investment capital to Indonesia must be encouraged, considering that Saudi Arabia is a large economic powerhouse. Until now, the investment value from Saudi Arabia is US $5 million, a very small amount and hence I suggest appropriate and accelerated actions to be taken to increase it,” the consul general added.

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The Economic and Trade Promotion Team (Prometer) of the consulate took the initiative to convene the investor meet in its bid to attract huge volume of investment funds from Saudi Arabia to Indonesia by inviting prominent investors to look into potential investment opportunities, mainly in the three provinces.

Apart from offering viable investment projects, the participants were briefed on investment regulations and policies as well as supporting facilities and incentive packages for foreign investors.

Various projects that are identified for foreign direct investment (FDI) were presented by the PMPTSP Office in the three provinces through short presentations. The projects include development of transportation infrastructure, tourism sector, hospitality, education, healthcare and agribusiness, manufacturing, and the establishment of palm oil-based product processing plants.

The meeting also dealt with topics that are of concern for investors such as what sectors are open and what are restricted to foreign direct investment, the value of foreign capital participation in various sectors, security guarantees and simplified procedures of investing in Indonesia, ease of doing business procedures, partnership schemes, and the dispute resolution mechanism.

The Saudis have shown their strong interest to pump investment in the offered projects. What they are expecting so much at this moment is their chances to have a site visit to the proposed projects in order to have a proper assessment of their feasibility.

While wrapping up the session, the Consul General recommended that there would be a follow-up to the meeting to discuss in detail the areas of interest to potential investors.

Iwan Ungsi, director of the Indonesian Investment Promotion Center based in Abu Dhabi, and officials of PMPTSP Service offices for East Java, West Java, and Jambi provinces also addressed the session, of which Dr. Windratmo, the official of economic section of the consulate, was the host.

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