To attract more Kuwaiti investors to invest in Indonesia, especially in the National Capital (IKN), the Indonesian Embassy in Kuwait City in collaboration with the Kuwait Chamber of Commerce and Industry (KCCI) has held the Indonesia Investment Forum (IIF): Exploring Investment Opportunities in Indonesia on May 10, 2023 at Al-Boom Hall, 10th Floor, KCCI Building, Kuwait City.

IIF commenced with welcoming remarks by Board of Director of KCCI, Wafaa Ahmed Abdulalzis Al Qatami, followed by remarks from the Indonesian Ambassador to Kuwait, Lena Maryana and Deputy Minister for Investment, Ministry of Investment / BKPM, Nurul Ichwan as the key speaker who conveyed various investment potentials in Indonesia as the country with the largest economy in Southeast Asia. On that occasion, Deputy Nurul Ichwan offered Kuwaiti businesses to participate in 69 (sixty-nine) projects that are ready to offer.

Furthermore, Senior Advisor to Minister of Investment on National Entrepreneurs, Ministry of Investment, Muhammad Pradana Indraputra in his presentation conveyed various facilities and incentives for investment, as well as explained several projects that can be collaborated, among others, solar power plants in Banten, cooking oil industry in Jambi, and other potential investment projects in the agriculture, livestock, fisheries and tourism sectors.

Meanwhile, Deputy of Funding and Investment of the IKN Authority, Agung Wicaksono explained the concept of IKN development that applies the principles of green, smart, inclusive, resilient and sustainable. IKN is targeted to become a world-class city by 2045, coinciding with 100 years of Indonesia’s independence. He also conveyed that the Government of Indonesia provides fiscal incentives for IKN projects in the fields of infrastructure, health facility development, education and renewable energy.

The last presentation was presented by INA’s Vice President Fund Raising and Investor Relations, Merlissa Trisno who introduced INA as a new institution in Indonesia that is expected to contribute for sustainable economic development to improve the welfare of future Indonesian generations. The projects offered by INA are related to infrastructure and logistics, transformation and green energy, digitalization, agriculture, health services, financial services, property and tourism.

IIF was attended by 37 entrepreneurs/stakeholders from various Kuwaiti investment companies, among others Kuwait Investment Authority (KIA), Union Investment Companies (UIC), Al Bader Tradinf Co, International, Marawi Group, Binsabt Group Companies, Fouad Al Ghanim & sons Group of Companies, United Gulf Enterprises, First Kuwait Trading & Contracting, Al Hamra Hotel, Kuwit Flour Mills & Bakeries Co, Al Wafaa Medical Co, Zahpah Trading Co., Modern Duqam Co. IIF runs interactively and continues till lunch time which hosted by the Indonesian Embassy in Kuwait City.

IIF Kuwait 2023 is also supported by Member of Commission VI of the Indonesia House of Representatives in the field of Industry, Investment, and Business Competition, Hon. Mrs. Luluk Nur Hamidah and Vice Chairman of Commission IV of the Indonesia Regional Representative Council in the field of Finance, Economic, Cooperation and SME’s, Hon. Mr. Abdul Hakim, and other Indonesian Delegations, among others Director for Middle Eastern Affairs Ministry for Foreign Affairs, Mr. Bagus Hendraning, Vice Director, Indonesian Investment Promotion Centre (IIPC) Abu Dhabi, Eka Sulistyawati, CEO Investment on Finance and Retail Sahara Group, Sharmila Yahya, and President Director of PT. Jagad Adinata (Construction and Waste Water Treatment), Yuyon Ali Fahmi.

During the visit in Kuwait, the Indonesian Delegation (Delri) also held some meetings, including the meeting of Deputy Nurul Ichwan – Ministry of Investment held a meeting with CEO KUFPEC, Mohamad S. Al-Haimer on May 09th 2023, Delri chaired by Deputy Agung Wicaksono held a meeting with Executive Director, Planning and Senior Management Kuwait Investment Authorit,y Ahmad M.A. Bastaki on May 11th 2023, and at the same time the Indonesian Ambassador, Lena Maryana accompanied by Member of Commission VI of the House of Representatives, Hon. Luluk Nur Hamidah and the Director of the Middle East of the Indonesian Ministry of Foreign Affairs held a meeting with representatives of the Department of Asia, Ministry of Foreign Affairs of Kuwait, Khalid Jasem Al-Yasin. All of these meetings aim to improve economic relations between the two countries, particularly in the climate-friendly investment sector at IKN, encouraging an increase in Kuwaiti tourists to Indonesia through the reactivation of Kuwait Airways flight route to Indonesia, and the continuation of the 2nd Indonesia-Kuwait Joint Commission Meeting in Jakarta in 2024.

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