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BUSINESS

KVG inks MoU to expedite expansion in Indonesia's kenaf market

16/08/2022 10:13 PM

KUALA LUMPUR, Aug 16 (Bernama) -- Malaysian kenaf planter and producer, Kenaf Venture Global Sdn Bhd (KVG) aims to expedite its expansion in Indonesia and Southeast Asia.

Towards this end, the company has inked a Memorandum of Understanding with the Government of Aceh and PT Kenaf Diwana Sanjaya to collaborate in the development of technology, research and development of kenaf seeds in the province.

KVG chief executive officer Jazman Shahar Abdollah said the company is well-positioned to expedite its expansion in Indonesia and strengthen its relationship as a result of the MoU’s recent partnership with OMEGA Group and GAMA Group of Indonesia.

‘’In an effort to maximise the business potential, KVG and its group of companies are committed to unlocking the potential and opportunities of the crops, as well as unlocking the full potential of kenaf with innovation in technology,’’ he said in a statement issued in conjunction with the MoU signing ceremony held in Jakarta on Tuesday.

Jazman said KVG is also determined to be at the forefront of technological advancements related to the kenaf industry, and move towards the Fourth Industrial Revolution (IR 4.0) in Indonesia.

This is to ensure that production can be carried out more efficiently and in line with the global manufacturing industry. 

Meanwhile, Mawardi, acting assistant for economics and development as well as secretary and representative of Aceh Government, said the cooperation is in line with the Government Work Plan which encourages foreign investors to invest in Indonesia to stimulate the republic's economy that has slowed down due to the pandemic.

He said the kenaf business development initiative is a driving factor towards a green and sustainable concept in accordance with the direction of the UN-Habitat, which is the United Nations Human Settlements Programme.

‘’Kenaf can be an alternate commodity in overcoming land degradation.

‘’Kenaf (Hibiscus cannabinus) known as Jute, including long-fibre categories, can grow smoothly in various types of soil, ranging from organic peat soil to sandy desert oil. This plant can grow on land that has been affected by flooding, low fertility, and a wide range of pH and have high tolerance to drought,’’ he said.

Kenaf is being used as raw material to produce gunny sack, carpets, geotextiles, and crafts.

-- BERNAMA 

 

 

 

 

 


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