BUSINESS

North Sumatra great location for E&E companies to expand - Consul-general

29/11/2022 04:09 PM

GEORGE TOWN, Nov 29 (Bernama) -- Indonesia, particularly North Sumatra, presents a great opportunity for electrical and electronics (E&E) companies in Malaysia to expand their businesses there given the availability of human resources and investor-friendly policies.

Indonesia consul-general in Penang, Bambang Suharto said there are about 27,000 Indonesian workers employed in the industrial sectors in Penang and the surrounding areas, therefore, intensive training would not be necessary.

“On their return to Indonesia, they are a potential human resource that investors can take advantage of, apart from the country’s abundant natural resources and good infrastructure.

“The business world has started to be active like before the pandemic, therefore, this is a great opportunity for businesses in Malaysia to invest in Indonesia and grow together with Indonesia,” he told reporters on the sidelines of the Indonesia Investment Forum here today.

Themed ‘Invest in Indonesia’s Manufacturing Industry’, the half-day forum which was organised by Indonesia’s Ministry of Investment, aims to highlight what Indonesia has to offer as an investment destination as well as to accelerate the country’s post-pandemic economic recovery.

Bambang said that under President Joko Widodo, Indonesia is very accommodating to foreign investors whereby in the Medium-Term Development Plan 2020-2024, the government has set the strategy for economic recovery post-pandemic through investment acceleration, industrial and trade recovery, deepening of the financial sector, tourism development, strengthening the health sector, infrastructure development and human resource development.

According to a press release issued by Indonesia’s Ministry of Investment, the manufacturing industry is one of the supporting sectors in Indonesia's economic growth and its contribution to Gross Domestic Product (GDP) has been showing a steady increase year by year, including during the pandemic.

The investment realisation of the manufacturing sector in Indonesia in the last five years (2017-2021) was US$82.84 million.

Currently, Malaysia is one of the top 10 investors in Indonesia, with investment realisation in the last five years (2017-2021) reaching US$6.76 billion.

-- BERNAMA


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