President Jokowi Invites S. Korean Businessmen to Boost Its Investment in Indonesia
President Joko Jokowi Widodo invited South Korean businessmen to continue to boost its investment in Indonesia. For the record, South Korea has become the third-largest foreign investor in Indonesia.
President Jokowi said that South Korean companies have a major contribution in Indonesias basic industries such as in the steel sector, petrochemical sector, the Korean shoe factory and a garment factory, which employ more than 900,000 Indonesian workers. “To make these investments, I would like to invite you all to the next stage in the creative industries and tourism industries,” President Jokowi said as a keynote speaker at the 2017 Indonesian-Korean Business Summit, in the Ballroom of the Shangri-La Hotel, Jakarta, Tuesday (14/3) morning.
The President explained that Indonesia is not only as the largest archipelago in the world but also is an archipelago that stretches along the equator, so that Indonesia is truly a tropical island paradise.
Inhabiting this tropical island paradise with people who are included in one of the most friendly, the most gracious, kindest heart in the world, President Jokowi believes that Indonesia is “The True Taeyang-Ui Huye“, the true descendants of the sun.
President Jokowi admitted that as a developing country, infrastructure is always an issue. However, the President assured that the Government is working to have it fixed immediately. “Our infrastructure will soon be connected, in every part of our country which is very large,” the President said.
The President said that two months after he took office, he cut over 80 percent of fuel subsidies, and then freed up 15 billion dollars per year of allocation/ fiscal to be allocated to the infrastructure development budget, which is the biggest ever in Indonesia. “This increases the cost of infrastructure, including construction of 35,000 MW power projects, 1,000 km of highways, 3,258 km of train service, 15 new seaports and 10 airports as well as 20 seaports development. This opens up new destinations for domestic and international tourism,” said the President while reminding the participants of the Business Summit on the beauty of Bali, and added that the Government create a program called the 10 New Bali.
According to the President, Indonesia is a good place in term of creative experience. Indonesia’s rich culture and diverse traditions such as the handicraft, the President continued, are proof that Indonesia has the talent pool for creative industries.
In addition, as a country that ranked 4 in term of using Facebook, and Jakarta ranked one for the number of Twitter users, President Jokowi asserted that Indonesia is also very social and digital enhancement. “We are aware that the industry is changing, and the economy is also changing. We intend to develop in line with the fourth industrial revolution. We look forward to having adventure in this journey with you all,” the President said. “In the future, we hope South Korea can continue to boost its investment,” the President concluded his speech.
The 2017 Korean Business Summit was attended by a number of tycoons from South Korea. They were from South Korean top companies such as Sohn Kyung-Shik (Chairman of CJ Group), Chung Jin Haeng (President of Hyundai Motor Group), Cho Yangho (Chairman of Korean Air), JK Shin (President of Samsung).
On that occasion, a Memorandum of Understanding on investment promotion between the Indonesian Investment Coordinating Board (BKPM) and the Korea Trade-Investment Promotion Agency (KOTRA) was also signed.
Also present at the event accompanying President Jokowi were Coordinating Minister for the Economy Darmin Nasution and the Head of BKPM Thomas Lembong. (DNA/JAY/ES) (MUR/YM/Naster).