The Indonesia Investment Promotion Center (IIPC) London, in collaboration with the Embassy of the Republic of Indonesia (KBRI) and the local representation of Bank Indonesia, once again hosted the Indonesia Investment Forum (IIF) 2023 in London, UK, on October 5, 2023.
Thirteen sustainable investment projects in sectors such as energy, industry, electric vehicles, tourism, infrastructure, transportation, mining, and digitization were presented during the business matching session at IIF 2023. These projects managed to pique the interest of approximately 20 investors from London and the surrounding regions.
Participating virtually, Minister of Investment/Head of Indonesia Investment Coordinating Board (BKPM) Bahlil Lahadalia recognized the global economic uncertainty and slowdown, emphasizing Indonesia has maintained positive economic growth of 5.31% in the second quarter of 2023, with inflation remaining below 4%. This achievement is attributable to the significant contribution of investments, making Indonesia the second-largest investment destination in Southeast Asia.
“I invite our friends from the U.K. to be part of this development process. You have the technology, markets, and financial capabilities, while Indonesia possesses abundant natural resources, extensive territory, and market penetration potential worldwide. Come to Indonesia, bring your technology, and we will handle the licensing,” said Bahlil in his address.
Nurul Ichwan, Deputy for Investment Promotion at the Ministry of Investment/BKPM, participated as a panelist in a discussion titled ‘Powering Up: Advancing Sustainable Infrastructure, Financial Sustainability, and Investment in Indonesia.’ She discussed the progress and efforts of the Ministry of Investment/BKPM in advancing investment projects, especially in renewable energy, sustainable investment, and the development of the electric vehicle ecosystem in Indonesia.
“The IIPC London office serves as the main contact point for our British and European investor friends interested in our sustainable projects,” Nurul emphasized.
Several ready-to-offer sustainable investment projects presented by the Ministry of Investment/BKPM include the Electric Motor Industry for Electric Vehicles in Bekasi, West Java; Integrated Charging Station Facility in South Jakarta, DKI Jakarta; Solar Power Plants (PLTS) in Penajam Paser Utara, East Kalimantan, and Lebak, Banten; as well as the Bioethanol Industry in Bojonegoro, East Java, with a total estimated investment value of USD 276 million.
Additionally, the project for the development of the Super Priority Tourism Destination (DPSP) Toba Caldera Resort by the Lake Toba Authority Implementation Agency (BPODT) was offered with an estimated investment value of USD 1.7 billion. Indonesian Ambassador Desra Percaya, Bank Indonesia Governor Perry Warjiyo, and Minister of State for the Investment Security Unit Nusrat Ghani were also present and delivered speeches at the opening of IIF 2023, with the theme “Fostering Sustainable Growth Through Green Investment and Digital Transformation.”
Prominent speakers from both Indonesia and the UK discussed potential economic cooperation between the two countries, including Richard Graham, the UK Trade Envoy to Indonesia, Malaysia, the Philippines, and ASEAN; Lord Vaizey of Didcot, Chairman of the UK ASEAN Business Council; and Rino Donosepoetro, Chairman of the British Chamber of Commerce Indonesia. IIF 2023 was conducted in a hybrid format at the KBRI London office and was attended by more than 200 participants, including business leaders as well as senior banking and investment representatives.
According to data from the Ministry of Investment/BKPM, the UK has been the second-largest European investor in Indonesia in the last five years after the Netherlands, for food crops, plantations, and livestock (24%); mining (20%); food industry (9%); chemical and pharmaceutical industry (8%); and hotels and restaurants (7%), with a total investment realization of more than USD 1.75 billion.
Further information is available via https://iif2023.indonesianembassy.org.uk/
Source: Ministry of Investment/BKPM
