Indonesia, Netherlands Sign US$606 M Business Agreements

The Hague, April 23 (Antara) - Four business agreements worth US$606 million, have been signed between Indonesian and Dutch business leaders. The agreements were signed in an Indonesia - Netherlands business forum here on Friday, the Capital Investment Coordinating Board (BKPM) said. BKPM chief Franky Sibarani, who was present at the ceremony said, implementation of the agreement could have multiple effect on Indonesian economy. "The agreement strengthen the position of the Netherlands as a main source of foreign investment for Indonesia," Francky said. He said foreign investment is needed to support the government's program of making investment one of the main drivers of economic growth. The four agreements covered investment in renewable energy sector, and infrastructure valued at US$400 million, solar panel industry worth US$185 million, agribusiness US$10 million, and in development of maritime human resource at US$11.2 million. "The infrastructure , renewable energy, agribusiness and solar energy sector are included in the government's development priority," Franky said. President Joko Widodo said at the forum, which was attended by more than 300 business leaders, the Indonesian government is busy building infrastructure to facilitate economic development. Franky Sibarani, as a panelist, explained about big steps taken by the government in reform in investment services saying BKPM has changed its function from licensing regime to more as a service regime. "BKPM has turned itself into 'one stop shop' for investment. A Dutch investor needs only to come to BKPM for all services needed," he cited. Based on BKPM data, Dutch investment projects implemented in 2010-2015 were valued at Rp70 trillion placing Dutch investors in the ranks of six largest foreign investors in Indonesia.