SEAToday.com, Jakarta - On November 5, 2024, the Ministry of Investment and Downstreaming / Investment Coordinating Board (BKPM) collaborated with the Consulate General of the Republic of Indonesia (KJRI) in Penang, Malaysia, to hold the Indonesia-Malaysia Investment Forum 2024 at The Swiss Avenue Hotel, Kedah, Malaysia.

This business forum aims to strengthen Indonesia-Malaysia economic relations by providing investment opportunities, fostering partnerships, and promoting business networks between Indonesia and Malaysian investors.

Kedah is a region in Malaysia known for its growing investment areas in agricultural technology, food processing, packaging, and more. Discussions at the Indonesia-Malaysia Investment Forum 2024 also covered downstreaming and investment opportunities in Nusantara's Capital City (IKN) and the Integrated Industrial Area in Batang, Central Java.

Several relevant parties attended the event, including entrepreneurs from various sectors in Indonesia, representatives from the Ministry of Investment and Downstreaming and BKPM, the Nusantara Capital City Authority (OIKN), the Batang Integrated Industrial Area, and the Indonesian Promotion and Investment Center, among others.

In his speech, Saribua Siahaan, Director of Investment Promotion for Southeast Asia, Australia, New Zealand, and the Pacific, highlighted how downstreaming could transform raw material exporters into competitive value-added goods producers.

Saribua emphasized that, if managed sustainably, such investments could provide long-term economic and environmental benefits. He noted potential investment opportunities in IKN and the Batang Integrated Industrial Area, with prospects in renewable energy, infrastructure, advanced manufacturing, and downstream industries, along with strategic collaborations that offer significant economic growth and job creation prospects.

At the event, US Pizza, Malaysia's third-largest fast-food chain, signed an Investment Announcement as a commitment to invest in Indonesia. US Pizza committed to expanding its business by opening around 30 new stores in Indonesia with an investment of RM 10 million, or approximately IDR 36.7 billion.

Wanton Saragih, the Consul General of the Republic of Indonesia in Penang, stated that the signing of the Investment Announcement reflects KJRI Penang's commitment to promoting foreign investment (PMA) in Indonesia. He emphasized KJRI Penang's role in promoting Indonesia's economic potential to business actors in Penang, Kedah, and Perlis.

The forum continued with face-to-face meetings aimed at providing participants with the opportunity to discuss potential collaborations and explore available investment opportunities.

Writer: Fariz Ahmad Luthfi