George Town, Malaysia (ANTARA/PRNewswire)- The Ministry of Investment and Downstream Industry/BKPM, along with the Consulate General of Indonesia in Penang, co-organized the Indonesia-Malaysia Investment Forum 2024 on Tuesday (5/11) at The Swiss Avenue Hotel in Kedah, Malaysia. The event aimed to strengthen economic ties between Indonesia and Malaysia by showcasing investment opportunities, fostering partnerships, and encouraging networking between Indonesian businesses and Malaysian investors. Kedah, with its growing investments in agriculture technology, food processing, and packaging, provided a perfect setting for the forum. The event featured panel discussions on the downstream industry, investment opportunities in the Nusantara New Capital, and the Batang Integrated Industrial Estate.

The Indonesia-Malaysia Investment Forum 2024 was attended by Malaysian business associations from Penang and Kedah, as well as stakeholders from various sectors in Indonesia, including representatives from the Ministry of Investment and Downstream Industry/BKPM, the Indonesian Capital City Authority (OIKN), Batang Integrated Industrial Estate (KITB), as well as the Indonesia Investment Promotion Centre (IIPC) Singapore and the Financial Attaché of the Indonesian Embassy in Singapore.

In his keynote speech, Saribua Siahaan, Director of Investment Promotion for Southeast Asia, Australia, New Zealand, and the Pacific, highlighted how downstream investment could transform raw material exporters into competitive producers of value-added goods. He emphasized that, if managed sustainably, such investments could provide long-term economic and environmental benefits. Mr. Siahaan also mentioned the investment potential in Nusantara New Capital and the Batang Integrated Industrial Estate, noting their opportunities in renewable energy, infrastructure, advanced manufacturing, and downstream industries, with strategic collaboration offering significant prospects for economic growth and job creation.

On this occasion, US Pizza, the 3^rd largest fast-food chain in Malaysia, signed an Investment Announcement as a form of its commitment to invest in Indonesia. US Pizza is committed to expanding its business, as it plans to open approximately 30 new outlets (stores) in Indonesia with an investment value of RM 10 million, or equivalent to Rp 36.7 billion.

The Indonesian Consul General in Penang, Wanton Saragih, stated that the signing of the Investment Announcement demonstrated the Consulate's commitment to encouraging Foreign Direct Investment (FDI) into Indonesia. He emphasized the Consulate's role in promoting Indonesia's economic potential to Penang, Kedah, and Perlis businesses.

The forum was followed by one-on-one meetings aimed to provide participants with personalized opportunities to discuss potential collaborations and explore investment opportunities offered.

Source: Ministry of Investment/Indonesia Investment Coordinating Board