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Indonesia and South Korea Collaborate for Investments in Eco-Friendly Industrial Zones.

As an effort to boost investments in Indonesia, notably in the manufacturing sector. The Ministry of Industry (Kemenperin) has planned strategic measures involving active participation in the promotion of domestic and foreign direct investment activities. As a part of the effort is a series of Business Forum organized by Kemenperin, together with the Embassy of the Republic of Indonesia (KBRI) in Seoul, the Ministry of Trade, and the Ministry of Investment / Investment Coordinating Board (BKPM), called “50 Years of Indonesia – Korea Relations: Developing Closer Friendship and Stronger Partnership through Enhanced Trade & Industry Cooperation.”

According to Indonesian Minister of Industry Agus Gumiwang Kartasasmita, the goal of organising this event is to strengthen industrial and trade cooperation, particularly efforts to promote Industrial Zones and Special Economic Zones, market access, export-import of fresh produce, the development of upstream and downstream industrial ecosystems, and other important activities to support national economic development. The minister emphasised that the potential for trade and industrial cooperation between Indonesia and South Korea remains tremendous. During the business forum, both countries presented an appealing investment climate.

The Business Forum, which was convened on July 25, 2023, was attended by over 250 delegates representing corporations based in Indonesia and South Korea. A Memorandum of Understanding regarding the development of advanced technology learning products for the medical devices industry was also signed at that time between MAN & TEL. Co., LTD., an industrial company based in South Korea, and PT. Stechoq Robotics Indonesia, an Indonesian company. They intend to allocate future investments towards the healthcare sector within the Kendal Industrial Zone.

During the business forum, Indonesia unveiled the Eco-Industrial Park (EIP) development programme, which supports the worldwide objective of lowering emissions from manufacturing activities and is sponsored by the Ministry of Industry. According to the minister, many regulations and laws have been enacted to support environmentally friendly management systems as part of the green industry idea.

Furthermore, the Minister of Industry stated that the Eco-Industrial Park (EIP) development programme has a substantial impact on preserving sustainable ecosystems in the industrial sector. This is consistent with Indonesia’s aim to globally developing competitive manufacturing industries through more rapid integration of Industry 4.0. The Global Eco-Industrial Park Programme (GEIPP-Indonesia) now includes three pilot projects: MM2100 Industrial Zone, Batamindo Industrial Zone, and Karawang International Industrial City (KIIC).

It is envisaged that Korea’s advanced technology will attract Indonesian investors seeking partnership, technology transfer, and knowledge sharing opportunities. On the other side, Korean enterprises can look into investment opportunities in Indonesia’s infrastructure development, energy, manufacturing, digital economy, and tourist sectors. All of this contributes to the development of the Eco-Industrial Park (EIP).

South Korea is one of Indonesia’s most significant economic partners. The entire trade turnover between the two countries was 24.5 billion USD in 2022, a considerable rise of 33.2% over the previous year.

Furthermore, South Korea ranked seventh as the greatest investor in Indonesia in 2022, with a total investment of 2.29 billion USD, representing a 40.06% increase over the previous year. Five manufacturing sectors enticed South Korean companies to invest in Indonesia: energy, water and gas, cars, footwear and leather, textiles and mining.

Translated from : http://ikft.kemenperin.go.id/ri-korea-selatan-dukung-investasi-kawasan-industri-ramah-lingkungan/

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