BKPM : Indonesia Could Lead ASEAN Food Market as The Business is Spicing Up
The Investment Coordinating Board (BKPM) expressed optimism that Indonesia's food and beverage industries would soar after the ASEAN Economic Community has been established. In the middle of the ongoing global economic slowdown, the realization of investment in food industry in Indonesia had reached US$151 million in early this year.
"Based on the fact, Indonesia can be the market leader in ASEAN by establishing itself as the production base to meet domestic demands," BKPM head Franky Sibarani said in a press release on Thursday, April 9, 2015.
During the period of January to September 2014, Indonesia's food and beverage exports had grown by 12.69 percent to US$31.37 billion compared to the same period in 2013. The exports accounted for 35.72 percent of the total manufacture exports.
The food and beverage industry is expected to grow by eight percent next year. Currently, the BKPM is addressing an issue that could hamper a US$1.4 billion investment plan. The BKPM is also seeking US$1.6 billion foreign investment from the United States, Japan and South Korea. The BKPM claimed that the investment realization would run smoothly after the implementation of the one-stop integrated service (PTSP) system.
The food and beverage industry has been listed in nine high-priority industries aimed at penetrating the ASEAN market. Trade Minister Rachmat Gobel hoped that local product exports would increase by 300 percent in 2019.