VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The Indonesian Ministry of Investment / Investment Coordinating Board (BKPM), joined hands with the Ministry of Foreign Affairs in strengthening national economic diplomacy cooperation. A memorandum of Understanding -MoU on Economic Diplomacy Implementation on Investment was signed by Minister of Investment, Bahlil Lahadalia and Minister of Foreign Affairs, Retno Marsudi virtually on Tuesday (31/08).

On the occasion, Minister Bahlil Lahadalia said that Indonesian ambassadors and consul generals have an important role in promoting national investment opportunities abroad. Amid the uncertainty of the pandemic Covid-19, it is time for Indonesia to do internal consolidation in a bid to attract foreign direct investment (FDI).

Minister Bahlil further remarked that currently, his side has prepared the Investment Opportunity Map that can be used by Indonesian representatives abroad in promoting investment in the country. To counterbalance other countries' penetration, Indonesia keeps making stimuli, such as the Investment Opportunity Map. Indonesia has 23 good proposals.

Also, the government is making innovation in speeding up business licensing. One of them is the risk-based online single submission (OSS), launched officially by Indonesian President Joko Widodo on August 9 2021. Minister Bahlil admitted, the OSS is not yet 100 percent and it still needs a lot of adjustments.

Meanwhile, Minister Retno Marsudi highlighted the positive development of business climate transformation in Indonesia and the establishment of Indonesia Investment Authority (INA). She also mentioned the challenges in the global contexts, especially Covid-19 pandemic. Amid such a situation, Foreign Affairs Ministry and Investment Ministry synergized more tightly and agreed to work out of the box to accelerate economic recovery.

Minister Retno Marsudi also affirmed that in this framework, the MoU was made, as a strong basis to cooperate in the next three years and to build fast inter-ministerial relations without complicated bureaucracy.