EuroCham Indonesia Economic and Investment Outlook 2019: Indonesia Remains as Attractive Investment Destination for European Companies

Jakarta, 6 February 2019 – Following last year’s success, the European Business Chamber of Commerce in Indonesia (EuroCham) in partnership with the Indonesia Investment Coordinating Board (BKPM) organized the “Indonesia Economic and Investment Outlook 2019” in Jakarta on 6 February.

This event discussed expected investment and economic developments in Indonesia for the coming year. Specifically, the outlook highlighted the roles of technology development for the competitiveness of the national industry. Prominent speakers are confirmed to attend include Minister of Industry Airlangga Hartarto, Chairman of Indonesia Investment Coordinating Board Thomas Lembong, Representative of EuroCham Executive Board Mr. Roelof Lamberts and H.E. Vincent Guérend, the European Union (EU) Ambassador to Indonesia.

On the important roles of technology development, the Vice Chairman of EuroCham, Ms. Corine Danielle Tap, separately stated that the government of Indonesia rightly recognizes the need for a ramped-up investment by the private sector for technology development. This would enhance the country’s competitiveness and efficiency of the national industry, as well as benefit overall to Indonesia’s economy and society.

“We fully support the development made by the government to encourage more innovative technology in Indonesia for sustainable economic growth. This could certainly be accomplished when the business community works together with the government as policymakers to push innovative policies for further economic development,” said Corine.

H.E. Vincent Guérend, the European Union (EU) Ambassador to Indonesia, appreciates the collaboration between BKPM and EuroCham in promoting an open and constructive dialogue about best practices to improve the investment climate in Indonesia. He specifically underlined that the EU-Indonesia Comprehensive Economic Partnership Agreement (EU-I CEPA) – which currently is under negotiations – promises enormous new opportunities for both Indonesia and the EU and will provide a much-needed boost to Indonesia’s economic development.

“The EU-I Comprehensive Economic Partnership Agreement will provide a stronger framework for bilateral trade and investment relations, as well as creating new market access for both EU and Indonesia. The agreement will bring capital investment as well as advanced technology transfer and know-how that is essential for human resource skill developments in Indonesia,” said Ambassador Guérend

The Chairman of BKPM, Thomas Lembong, responded positively by asserting that Indonesia is an attractive investment destination for European companies. Currently, the EU is the fourth largest investor in Indonesia. Strengthened bilateral relationship between the EU and Indonesia would certainly further growth in Indonesia.

“We have been welcoming the investments of European companies here in Indonesia that also support the national industry. European investors usually bring along state-of-the-art technology that can also be applied locally, this is in line with the government’s focus on making Indonesia Industry 4.0,” stated Thomas Lembong.

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