Synergy of trust and mutual respect

Bahlil Lahadalia
Bahlil Lahadalia

Bahlil Lahadalia, Minister of Investment and Chairman of the Indonesia Investment Coordinating Board, touches upon the special business relations between both the nations

Published: Tue 17 Aug 2021, 12:00 AM

The Covid-19 pandemic that has occurred since the beginning of 2020, by now seems to have reached almost all parts of the world. Global economic growth has not been optimal due to the impact of Covid-19, and this has also impacted the economy of Indonesia.

Today, we are confirming a new strategy of ‘out-of-the-box’ thinking, in order to build synergy between friendly countries. The UAE is one of the countries that has quite good relations with Indonesia, not only in the context of how the country's relations are but the relationship between the two leaders of the countries is also a special bond. For this reason, we at the Ministry of Investment always try to find solutions so that we can bring in foreign direct investment, especially from the UAE to Indonesia, and we have signed several of them, including the construction of a floating solar panel power plant in West Java. This is the right moment.

In another context, I would like to convey that the Indonesian government is very focused and serious in fixing regulations that hinder investment and this is proven by the completion of the discussion of the work copyright law with its derivative instruments including government regulations. And specifically, the Ministry of Investment has the task of dealing with the electronic-based licensing process via the Office of Strategic Services (OSS). With this OSS, it cuts all the links that have been a complaint from entrepreneurs. Entrepreneurs only need four things: certainty, efficiency, transparency, and velocity. Through OSS, investors who take care of their permits do not need to meet with officials at the regional and central levels, they can do it directly.

And I believe that by providing good incentives and good services at low and measurable costs, the relationship between the two countries in the context of synergies for mutual benefit in the economic context, especially investment, can be realised together. The UAE, especially, has cultural similarities with the Indonesian population, both housing a majority of Muslims. And I think we can use these relations as capital for the two countries to synergise with each other.

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