JAKARTA - The Ministry of Industry is actively attracting South Korean investors to continue investing in Indonesia in order to strengthen the structure of the domestic manufacturing sector. This step will also simultaneously spur industrial competitiveness and encourage national economic growth.
"Korea is one of the top 10 investors in Indonesia. They have potential industries, especially the manufacturing sector," said Industry Minister Airlangga Hartarto when delivering a keynote speech at the 2019 Indonesia - Korea Conference: Charting A Blueprint for Robust Partnership in Jakarta, Wednesday (18/9).
For information, the total investment realization from South Korea since 2014 until the first quarter of 2019 reached USD 7.3 billion. Meanwhile, investment realization in 2018 was USD 1.6 billion. South Korea’s investment is dominated by the machinery and electronics industry (15%), mining (13%), gas and water (9%), footwear industry (8%), and rubber and plastic industry (8%).
Meanwhile, the Minister of Industry assessed that efforts to accelerate the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) would facilitate cooperation in the industrial sector for the two countries. According to him, IK CEPA will affect two-way trade cooperation in order to be mutually beneficial. (LM)