Minister of Investment /Head of the Investment Coordinating Board (BKPM), Rosan P. Roeslani, said bilateral Indonesia-Africa investment continues to grow, with Indonesia’s total investment in African countries for the period of 2019 until the second quarter of 2024 was recorded at US$2.09 bilion, while total investment of African countries in Indonesia at US$ 1.73 billion.
“Indonesia has invested in key countries in Africa. This shows our commitment for joint welfare, with Indonesian companies are operating in eight countries in Africa,” Rosan told the Indonesia-Africa Parliamentary Forum (IAPF) in Nusa Dua, Bali, on Monday, September 2, 2024.
He cited that several Indonesian companies have been investing in Africa, including State energy company PT Pertamina in the energy sector in Kenya and Tanzania, private company Medco Energy in oil and gas industry sector in Mozambique, and Bio Farma and Wings Group in pharmaceutical and consumer groups sector in Kenya.
In the meeting themed ”Harnessing trade and investment potentials for inclusive economic growth”, Rosan said that bilateral trade between Indonesia and Africa increased rapidly in 2023.
Indonesia exports finished products and imports raw materials from Africa. Indonesia also increases investment agreement through Bilateral Investment Treaties (BTI) with African countries to make sure a stable investment climate.
Inclusive investment trade
Secretary General of the United Nation Conference on Trade and Development (UNCTAD), Rebeca Grynspan Mayufis, who took part in the meeting as panelist, said that in the current era of poli-globalization, the situation grows better because investment and trade have become more inclusive and decentralized.
“In the next five years, Global Gross Domestic Product will reach US$30 trillion and one third will come from the Global South,” Rebeca said.
IAPF is one of the events held in the Indonesia-Africa Forum 2024 which is held on September 1-3, 2024 in Nusa Dua, Bali.
Rosan accompanied President Joko Widodo in the High Level Forum – Multi Stakeholders Partnership (HLF MSP) 2024. HLF MSP 2024 was attended by 1,275 participants from 26 countries.
