INDONESIA invites Scottish businesses to increase investment in Indonesia, especially priority sectors such as renewable energy, science, creative industries and fintech.

This invitation was conveyed by the Indonesian Chancellor of the Republic of Indonesia, Adam M. Tugio, in a webinar program Focus on ASEAN: Indonesia, in collaboration with the Asia Scotland Institute with the Indonesian Embassy in London recently.

“Optimism for the Indonesian economy is very good. In the midst of the COVID-19 pandemic, Indonesia seeks to maintain domestic economic stability, while at the same time striving for economic growth in 2021,” he said.

In addition, there was a positive anomaly in which Indonesian exports were positive, the acceleration of Indonesia’s domestic industry and independence from import dependence (especially related to health and medical products), the improvement of Indonesia’s internet economy, and the continued development of infrastructure in Indonesia

In response to COVID-19’s global pandemic, Indonesia quickly adopted a policy of providing an economic stimulus of IDR695.2 trillion which prioritized the health sector, social security, business incentives, MSMEs, corporate financing and support for local governments.

One example of developments achieved during the pademic is the development of the domestic health industry. Indonesia has succeeded in producing personal protective equipment (PPE).

Meanwhile Head of Bank Indonesia London Representative, Dicky Kartikoyono, said that Indonesia was trying to maintain economic stability. At present Indonesia’s GDP growth is estimated to be between 0.9-1.9%, however, Indonesia’s current condition is better than other countries.

“Bank Indonesia continues to partner with the government to advance economic growth by maintaining the investment climate in Indonesia while promoting trade,” said Dicky.

Likewise, the Chairman of BritCham Indonesia and the Scottish Government’s Trade Envoy for Indonesia, Ainsley Mann, acknowledged that Indonesia has great economic potential. Large population and workforce are supporting factors for the Indonesian economy.

Moreover, Indonesia is a stable country in the global financial market. With this economic performance, Scotland needs to take advantage of opportunities to increase cooperation with Indonesia.

Ainsley Mann mentioned one of the partnership opportunities in the field of waste management that can support the development of renewable energy.

Scotland is a constituent country of Great Britain. Edinburgh as the capital of Scotland is one of the largest financial centers in Europe. Many large financial companies are located in Edinburgh including Llyod Banking Group, Royal Bank of Scotland and Standard Life.

Counselor of the Indonesian Embassy in London, Hartyo Harkomoyo, said that the Indonesian Embassy in London webinar together with the Asia Scotland Institute was one of the diplomatic efforts to enhance cooperation in various sectors, especially trade and investment promotion. [antaranews/photo special]