Bali :

News Flash:

Indonesia and South Korea Sign Green Investment Agreement

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on telegram
Share on whatsapp
Share on email

A Memorandum of Understanding on sustainable green investments has been signed between Indonesia and South Korea according to recent reporting from Antara News.

Bahlil Lahadalia, head of the Investment Minister and Investment Coordinating Board (BKPM) and the South Korean Minister of Trade, Industry, and Energy Lee Chang-Yang signed the MoU in Seoul, South Korea, in the presence of President Joko Widodo (Jokowi) and South Korean President Yoon Suk-yeol.

“We are committed to consistently providing full support to South Korean investors, (starting) from the licensing to supervision until the realization of their investments. This applies to potential investors and those who already exist in Indonesia,” Lahadalia said on Thursday.

Antara News suggest the collaboration between the two governments aims to improve and enable mutually beneficial cooperation activities, such as investment, technology transfer, and capacity building, to speed up the realization of sustainable green investment.

Minister Lahadalia said that Indonesia and South Korea already enjoy great bilateral relations, especially in investment. According to him, South Korean investors have made a significant contribution to Indonesia by helping realize economic transformation, such as in the development of the electric vehicle ecosystem in Indonesia.

The South Korean Ministry of Trade, Industry, and Energy (MOTIE) will support investment from South Korea, which has the capital and advanced technology to develop sustainable green investments, as well as appropriate technology transfer to the Indonesian government and the private sector.

Minister Lee welcomed the establishment of cooperation with Indonesia.

“We are pleased to be able to contribute to the development of green investment in Indonesia, and we hope that this cooperation can continue to run and be mutually beneficial,” he remarked.

The MoU also covers the promotion and facilitation of investment activities in the industrial and green energy sectors, such as the electric vehicle ecosystem, batteries, semiconductors, and renewable energy.

South Korea’s investment in Indonesia’s electric vehicle ecosystem has been realized through cooperation between a consortium of South Korean companies, which includes LG, Hyundai, KIA, and Posco, with Indonesian state-owned IBC (Indonesia Battery Corporation.)

 

Source: Antara News

Latest Article

Join Our Online Forum

The Bali Expat Forum is one of the longest-running online communities for expats living in Bali. Click here to join

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

[wpforms id=”43785″]

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.