Monday, 23 September 2019 00:00

Indonesia and South Korea Strengthen Investment Cooperation

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Indonesian Investment Coordinating Board -BKPM seeks to increase investment flows from South Korea. One of them is through the signing of a Memorandum of Understanding with the Korea Overseas Infrastructure & Urban Development Corporation (KIND), a South Korean-owned entity for infrastructure cooperation and urban area development. The MoU was signed by BKPM Deputy for Investment Planning, Ikmal Lukman and KIND Executive Vice President, Han Kyu-lim at the Business Forum: Invest Indonesia event in Seoul on Friday (9/20).

Head of BKPM, Thomas Lembong, as released by Republika on Saturday, 21.9'19 explained that the memorandum of understanding is expected to facilitate investors who are interested in investing in Indonesia, especially in infrastructure. Indonesia can exchange information with KIND such as information about a list of potential projects and investment opportunities in infrastructure and urban development.

Deputy Ikmal Lukman explained that on the one hand, the scope of cooperation based on this Memorandum of Understanding includes the exchange of public information that is open to the public. On the other hand, there are promotion and facilitation of infrastructure projects / urban development in Indonesia. For information exchange, BKPM can also ask investors for recommendations from KIND and provide feasibility studies for these projects.

Ikmal also explained that the cooperation is also related to business meetings. At present, KIND is exploring 48 projects in Asia; 15 of them are in Indonesia. KIND projects in Indonesia are spread across several regions of Java, Sumatra, Sulawesi and Kalimantan. The sectors of interest are transportation, environment, logistics, power generation, urban area development, and water treatment plants.

Meanwhile, KIND Executive Vice President, Han Kyu-lim said that for South Korean construction companies, Indonesia has become one of the most important markets in the world. It always wants to establish a better partnership with the Government of Indonesia and private companies. The signing of the MoU between BKPM and KIND is considered very good by Han. Because, this will encourage more active communication and enable effective collaboration. Furthermore, KIND is committed to making the best efforts to increase the participation of South Korean companies in infrastructure projects and urban development in Indonesia in cooperation with BKPM. According to BKPM data, the total realization of South Korean investment in Indonesia from 2014 to the second quarter of this year reached US$7.5 billion dollars.

Read 86 times Last modified on Tuesday, 08 October 2019 10:45