Malaysia is committed to increasing investments in Indonesia, said Minister of International Trade and Industry Mustapa Mohamed.
He said in this regard, both countries will come up with proposals to boost trade, including potential ventures in new areas of collaboration, such as the digital economy and Micro, Small and Medium Enterprises (MSMEs).
“These proposals will be further deliberated at the upcoming Third Joint Investment and Trade Committee Meeting scheduled for July 10-13 in Kuching, Sarawak,” he added in a statement.
Mustapa concluded a working visit to Indonesia from June 11-13, and the highlight was a roundtable session attended by 80 business leaders, comprising 40 from each country.
The session was also attended by representatives of the Malaysia-Indonesia Business Council and Khazanah Nasional, along with their Indonesian counterparts, which reflected the interest in investing in the country.
“During my courtesy call on Indonesian President Joko Widodo, I relayed the interest of Malaysian companies to continue investing in Indonesia’s infrastructure development.
“Indonesia’s US$1 trillion economy with a 250 million population and growing middle class has a lot of potential, which once fully tapped, will contribute significantly towards creating a more prosperous Asean,” he said.
In 2016, Prime Minister Najib Razak said he wants to double trade with Indonesia to US$30 billion in the coming years.
Malaysia-Indonesia total trade stood at US$13.8 billion in 2016. On the investment front, from 2008-2016, Malaysia invested about US$15 billion in Indonesia. Indonesian investments in Malaysia stood at about US$2.6 billion. – Bernama