Indonesia, New Zealand investment opportunities still wide open: Investment Official

Indonesia, New Zealand investment opportunities still wide open: Investment Official

Franky Sibarani. (bkpm.go.id)

... Indonesia has, so far, exported paper and pulp, textile, and chemical products."
Jakarta (ANTARA News) - Opportunities to enhance investment cooperation between Indonesia and New Zealand are still wide open, Head of Indonesias Capital Investment Coordinating Board (BKPM) Franky Sibarani stated.

"Dairy and other quality products from New Zealand, such as milk, cheese, and olive oil have become a part of the daily life of Indonesian families. On the other hand, Indonesia has, so far, exported paper and pulp, textile, and chemical products," he noted in a press statement received here on Friday.

Franky made the statement at the Indonesia-New Zealand Investment Forum organized by the BKPM in cooperation with the Indonesian Embassy in Wellington, Auckland.

He noted that during the period between 2010 and 2015, investment realization from New Zealand was recorded at US$38.2 million of which 77 percent was in the food industry.

During the same period, investment commitments of that country reached $124.3 million. The dominating sectors include the food and chemical industries, infrastructure, and tourism sectors.

Companies from New Zealand, such as Fonterra and ANZ have invested in Indonesia.

"We will continue to invite global companies from New Zealand to invest their capital in Indonesia to create jobs and to ensure a transfer of technology and knowledge," he affirmed.

Franky revealed he had invited investors from New Zealand to enter priority sectors, such as food and tourism, which have been outlined by the government.

"We also hope they will enter the energy sector, especially in the development of geothermal energy," he noted.

On the sidelines of the event, Franky also met New Zealands Minister of Economic Development, Steven Joyce.

At the meeting, Franky urged New Zealand to invest in the development of a geothermal power plant in Indonesia.

"In 2014, the two countries had signed a memorandum of understanding on the development of a geothermal power plant, with a total investment of $12.86 million," he said.

"We wish to push for the implementation of the plan. The investment can support the realization of the Indonesian governments development program to generate 35 thousand megawatts of electricity," he stated.

Citing the geothermal investment potential from New Zealand, Franky remarked that the country had been involved in the development of the Kamojang geothermal power plant in 1970.

"They have the potential and technology for developing geothermal power plants in Indonesia," he pointed out.

New Zealand is known to have successfully transformed itself from an agriculture-based to an industry-based economy on a global scale.

Innovation and technology to boost productivity have advanced New Zealands economy.

(Reporting by Ade Irma Junida/Uu.H-YH/INE/KR-BSR/F001)

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