"The investment environment in Indonesia, in my opinion, is quite good," Ryan Lee said, at a ceremony marking the opening of the KIND office in Jakarta on Tuesday.
KIND is an organization that provides wide-ranging support for Korean companies to expand their overseas PPP investment and development business activities. KIND will play the role of supporting the overall aspects of business, from identifying projects and supporting project development and finance, to making direct investments.
As an organization, KIND serves as a facilitator, coordinator, and investor in Korean businesses’ local and global public-private partnership (PPP) projects in Indonesia.
Regarding the investment environment, according to Lee, the Public-Private Partnership procedure, institutional, and legal frameworks in Indonesia are exemplary and can become a benchmark for other developing countries.
In his presentation during the opening ceremony, Lee also mentioned the report issued by the World Bank in February 2019, which placed Indonesia at fifth rank in the list of the world's best investment destinations, and at the second position for the Asia-Pacific region.
"It is obvious that Indonesia has become the center of investors' interest," Lee said.
For this reason, South Korea opened its corporate organization office for infrastructure and urban development (KIND) in Jakarta. KIND's presence in the country is in line with the Indonesian government’s current intensified efforts to build and develop infrastructures throughout the country.
Lee stated that, so far, there are some 175 South Korean companies that are operating as many as 558 construction projects in Indonesia, valued at US$ 19 billion.
"There are 16 projects (in Indonesia) that KIND is reviewing for investment," Lee said.