Belgium to Invest in Three Strategic Sectors in Indonesia
On its fifth economic mission to Indonesia, Belgium is keen on helping Indonesia develop its renewable energy, maritime and tourist sectors, says an Indonesian top investment official.
Investment Coordinating Board (BKPM) head Franky Sibarani said with regard to renewable energy, Belgium was interested in investing in the development of wind energy, while in the maritime sector it wanted to invest in the shipping industry and fisheries.
In tourism, the Belgian business community would like to develop hotels in Indonesia’s main tourist destinations, he said.
The BKPM said Belgium was the fifth-largest investor in Indonesia among EU members.
"The BKPM recorded US$ 132 million in investment between 2010 and 2015, not including in the upstream oil and gas and financial sectors," said Franky after an inaugural event of the Belgium-Indonesia technology partnership in Jakarta on Monday.
Belgian investors, he added, had been supporting industrialization in Indonesia, as well as the transfer of knowledge and technology from generating power to producing chocolate. "We have also learned how to create jobs, especially at plantations, hotel and restaurants," Franky added.
Princess Astrid of Belgium, as a representative of her brother, King Philip, heads the fifth economic mission to Indonesia from March 12 to March 19, aimed at strengthening economic cooperation between the two countries.
During the visit, Franky said, Astrid hoped the Indonesian government would guide Belgian investors in the investment process and facilitate in terms of fiscal incentives.
"There are several investors in clean energy that want to be facilitated because they are very serious about investing in Indonesia and they want to understand the regulations," he mentioned.
Indonesia Benelux Chamber of Commerce (INA) director Elmar Bouma said Belgians were often reluctant to do business in Indonesia due to the economic climate, especially for small and medium enterprises (SMEs).
"What they asked for is a stable legal framework to maintain their business in the country," Bouma said.
Belgium is the sixth-largest importer of Indonesian commodities in the EU. In 2014, Belgian exports to Indonesia included chemical products, machinery, equipment and animal products.
According to Belgian Ambassador to Indonesia Patrick Herman, the economic mission comprises 301 participants from 127 Belgian companies and four trade promotion bodies. "This is the largest Belgian mission to Indonesia in decades," he said.
During the economic mission, Belgian companies and authorities will sign 25 contracts with their Indonesian counterparts. (bbn)(+)