Jakarta (ANTARA) - Indonesia is an attractive investment destination for European companies, according to the Investment Coordinating Board (BKPM).
"We welcome the investment of European companies in Indonesia that also supports national industries," BKPM Head Thomas Lembong stated at the Indonesia Economic and Investment Outlook 2019 here on Wednesday.
Lembong noted that European investors usually brought along cutting-edge technology that can also be applied by local industries. This is in line with the government`s focus on the roadmap for Industry 4.0: Making Indonesia 4.0.
At present, the European Union is the fourth-largest investor in Indonesia. Increasing bilateral relations between the European Union and Indonesia are expected to boost economic growth in Indonesia.
The European Chamber of Commerce in Indonesia (EuroCham) Vice Chairman Corine Danielle Tap stated that the Indonesian government had properly realized the need to increase investment from the private sector for technology development.
Such strategy will improve competitiveness and efficiency of the national industry as well as provide economic benefits for Indonesia and the community, as a whole, she added.
"We fully support the improvement efforts made by the Indonesian government to encourage innovation in the technology sector for sustainable economic growth. This can, of course, be achieved if business people work with the government, as policy makers, to encourage innovative policies to develop a sustainable economy," the EuroCham vice chairman remarked.
Meanwhile, the EU Ambassador to Indonesia Vincent Gu?rend lauded the collaboration between BKPM and EuroCham in promoting open and constructive dialog regarding best practices in order to improve the investment climate in Indonesia.
Gu?rend underlined the Comprehensive Economic Partnership Agreement between the EU-Indonesia (I-EU CEPA), which is currently in the negotiation process, promising various opportunities for Indonesia and the EU, and can further boost Indonesia`s economic development.
"The Comprehensive Economic Partnership Agreement between the EU-Indonesia (I-EU CEPA) will provide a stronger framework for bilateral trade and investment relations as well as create new market access for the EU and Indonesia. This agreement will bring capital investment and technology transfer as well as knowledge that is important for the development of workers` skills in Indonesia," he noted.
Reporting by Ade Irma Junida, Yashinta Difa