"The government welcomes LGI's investment expansion plan, particularly in the construction of a meat processing factory in Indonesia," he said during a meeting with the company's chairman and managing director, Yusuff Ali Musaliam Veettil Abdul Kader, in Dubai on Wednesday.
Founded in 2000 and headquartered in Abu Dhabi, LGI has become one of the main contributors to the Gulf's economy, with a turnover of US$8 billion.
The multinational company's business spans the globe through a network of subsidiaries engaged in the retail, manufacturing, trading, and real estate sectors.
In Indonesia, LGI has established its presence through its subsidiary, Lulu Retail, which provides a variety of goods, including essential commodities.
Currently, there are four Lulu Hypermarket branches in Indonesia, located in Cakung, Tangerang, Sawangan, and Bekasi.
Kader expressed LGI's interest in expanding its investment in Indonesia by building a meat processing plant. The factory will handle raw material preparation, forming, frying, freezing, and packaging of sausage and meatball products.
"We guarantee that the products will have halal certification, and the prices will be lower than those of products from other countries," he noted.
Indonesia has offered one of its special economic zones (SEZs) as a potential location for LGI's meat processing factory.
The SEZ provides various benefits and incentives for investors, including tax incentives, a competitive workforce, integrated infrastructure, and more efficient customs procedures.
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Translator: Bayu Saputra, Yashinta Difa
Editor: Anton Santoso
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