Indonesian envoy seeks investments in Sei Mangkei SEZ

Chandigarh, Nov 8 (SocialNews.XYZ) India and Indonesia would continue to strengthen trade and investment ties, with Indonesia's special focus on its Special Economic Zone (SEZ) Sei Mangkei, Indonesia's Ambassador to India, Ina Hagniningtyas Krisnamurthi, said here on Wednesday.

The bilateral trade between the two nations has reached $38.84 billion, positioning Indonesia as India's largest trading partner in Southeast Asia for the 2022-23.

This robust trade relationship is underpinned by the investments made by more than 40 Indian companies to date in various sectors like rubber, plastics, chemicals, textiles, and FMCG within Indonesia.

The Ambassador, who was here for a session at the CII Northern Region Headquarters, highlighted investments from Indian investors worth $198 million in the SEZ.

The MoUs were signed with Sheel Chand Agroils Pvt Ltd ($90 million), Alliance World ($55 million), and SGF Industries ($53 million) during the session. Krisnamurthi expressed commitment to fostering stronger bilateral ties in trade and investment through the motto 'Toward Golden Indonesia 2045 -- realizing a sovereign, advanced, and sustainable nation through investment'.

"We're ready to support and facilitate any inbound investment to Indonesia and outbound investment from India. This showcases the stronger bilateral commitment in investment, trade, and economy between our two great nations," she said.

Furthermore, SEZ Sei Mangkei stands out as one of the best investment destinations in Indonesia, and "we encourage businesses to make full use of its potential".

Edward Samantha, Director, PT Kawasan Industri Nusantara (KINRA) in North Sumatra, emphasized Indonesia's commitment to promoting foreign direct investment (FDI) enhancement by establishing the Sei Mangkei SEZ.

Source: IANS