President Joko Widodo (Jokowi) welcomed delegates of Chief Executive Officers (CEOs) from Hong Kong companies at the Presidential Palace in Jakarta on Tuesday, July 25, 2023. During the meeting, both parties discussed investment opportunities in Indonesia.
“The President welcomed the Hong Kong delegation to discuss several potential investments they are considering,” said the Minister of Investment and Head of the Investment Coordinating Board, Bahlil Lahadalia, to reporters at the Presidential Palace Complex on Tuesday, July 25, 2023.
Various sectors are being explored, including tourism, the National Capital, and several infrastructure projects. However, Bahlil did not provide further details concerning the meeting and the discussion.
“The Minister of State-Owned Enterprises will lead the discussions as I asked him to meet their delegation officially at the State-Owned Enterprises office,” Bahlil explained.
Separately, Indonesian Ministry of Foreign Affairs Retno Marsudi, stated that the delegation that met with the President consisted of Chief Executives of companies in Hong Kong, accompanied by five high-ranking officials, and 30 representatives of various major companies.
Issues discussed in the meeting
In the meeting, the President presented three key points. First, Jokowi offered investment opportunities in Indonesia, such as the development of the National Capital Region, infrastructure, transportation, digital technology, and green energy.
Second, regarding trade, considering the substantial total trade between Indonesia and Hong Kong, both sides are committed to take measures to reduce trade barriers.
“The President mentioned access to some Indonesian products, including food, agriculture, and spices. He also suggested cooperation in the culinary field, which was warmly received by the Hong Kong Chief Executive,” said Retno.
The third issue was in relation to the protection of Indonesian citizens. Currently, there are over 140,000 Indonesian citizens working in Hong Kong, 90% of which are migrant workers.
Despite this, Retno was still unable to disclose specific outcomes of the meeting, as the delegation will be conducting further business meetings in Indonesia with various parties.
Hong Kong’s investment value in Indonesia in the first quarter of 2023 was the second largest recorded after Singapore in the first place. Meanwhile, trade value between Indonesia and Hong Kong has increased significantly by over 20%.
