The Investment Coordinating Board (BKPM) is teaming up with the Korea Overseas Infrastructure & Urban Development Corporation (KIND) to increase South Korean investment in the development of infrastructure in Indonesia.
BKPM Deputy for Investment Planning Ikmal Lukman and KIND Executive Vice President Han Kyu Lim signed a Memorandum of Understanding (MoU) in the field of infrastructure cooperation and urban development on the sidelines of the 'Business Forum: Invest Indonesia' in Seoul, Friday. The signing of the MoU will hopefully strengthen the longstanding cooperation and relations between the two countries, thereby facilitating the inflow of South Korean investment into Indonesia particularly in the field of infrastructure, BKPM Chief Thomas Lembong said in a written statement released Friday.
"Of course, the MoU will benefit the two sides. We can exchange information with KIND, such as a list of potential projects and investment opportunities in the field of infrastructure and urban development," he said.
Also present at the signing of the MoU were Indonesian Coordinating Minister of Maritime Affairs Luhut Binsar Pandjaitan, Indonesian Ambassador to South Korea Umar Hadi and Chairman of Korea-Indonesia Economic Cooperation Committee under the Korea Chambers of Commerce and Industry (KCCI) Yoon Chun-sung.
The scope of the cooperation depends on the MoU and covers the exchange of general information open to the public, and the promotion and facilitation of infrastructure/urban development projects in Indonesia, Lukman said.
"For the exchange of information, BKPM can provide not only a list of projects and investment opportunities in Indonesia but also ask investors to show recommendations from KIND and facilitate a feasibility study for the projects," he said.
KIND is exploring 48 projects in Asia, including 15 in Indonesia. They are found in Java, Sumatra, Sulawesi and Kalimantan Islands.
Among the sectors that attract KIND are transportation, environment, logistics, power plant, urban development and water management installations.
Indonesia is one of the most important markets in the world particularly for South Korean construction companies, Han Kyu Lim said. (ANTARA)