Indonesia, Switzerland sign MoU on trade, investment

SwissCham Indonesia and BKPM MoU signing ceremony on March 15, 2022. - SwissCham Indonesia

JAKARTA (The Jakarta Post/Asia News Network): The Swiss-Indonesian Chamber of Commerce (SwissCham Indonesia) and the Investment Coordinating Board (BKPM) have signed a memorandum of understanding (MoU) to boost trade and investment between the two countries.

The scope of the three-year MoU includes liaising on several issues, including investment policies, foreign direct investment (FDI) as well as innovation and knowledge transfer.

“SwissCham sees Indonesia as an ideal investment destination with great economic potential,” Khalid Ibrahim, who heads the ease of doing business sectoral group at SwissCham Indonesia, said at the virtual MoU signing ceremony on Tuesday (March 15).

“The Indonesian government via BKPM has consistently provided equal investment opportunities for every country, including Switzerland.”

Last year, Switzerland was Indonesia’s tenth largest foreign investor with an investment value of US$599.8 million from 281 projects in various sectors, including food and beverage, chemicals and pharmaceuticals, and forestry and fisheries.

Ambassador to Indonesia Kurt Kunz and special advisor to BKPM on investment competitiveness enhancement Heldy Satrya Putera attended Tuesday’s (March 15) signing ceremony as witnesses of the MoU.

“Since 2018, SwissCham Indonesia has been actively connecting Swiss companies’ investments into the country. [We] hope that this collaboration strengthens SwissCham Indonesia's role in improving a conducive business environment and cooperation [between the two countries],” Kunz said.

SwissCham Indonesia aims to enable businesses in Indonesia and Switzerland to connect and excel through a networking platform that offers a broad range of events, services and benefits for corporations and individuals to discover new opportunities.

Other than advising Swiss businesses in Indonesia and vice versa, the organisation also aims to bridge the two nations’ interests. The ambassador added that the Indonesia-European Free Trade Association Comprehensive Economic Partnership Agreement (IE-CEPA), which entered into force in November 2021, had wide application.

“The [IE-CEPA] includes provisions on investment and comprehensive provisions on trade and sustainable development, which are expected to make a positive contribution to a mutually beneficial business and investment climate for both countries,” he said.