SEAToday.com, Kedah - On November 5, the Indonesian Investment Ministry and the Investment Coordinating Board (BKPM), in collaboration with the Indonesian Consulate General in Penang, Malaysia, successfully organized the Indonesia-Malaysia Investment Forum 2024 at The Swiss Avenue Hotel, Kedah, Malaysia.

This business forum aimed to strengthen economic relations between Indonesia and Malaysia by providing investment opportunities, strengthening partnerships, and promoting business networks between Indonesia and investors in Malaysia.

Kedah, a region in Malaysia, is known for its growing investment in agricultural technology, food processing, packaging, and more. The Indonesia-Malaysia Investment Forum 2024 also discussed downstream industries and investment opportunities in the Nusantara Capital City (IKN) and the Integrated Industrial Estate in Batang, Central Java.

Several key stakeholders attended the Indonesia-Malaysia Investment Forum 2024, including Indonesian entrepreneurs from various sectors, representatives from the Ministry of Investment, BKPM, the Nusantara Capital Authority (OIKN), the Batang Integrated Industrial Estate, and the Indonesia Investment Promotion Center, among others.

In her speech, Saribua Siahaan, Director of Investment Promotion for Southeast Asia, Australia, New Zealand, and the Pacific, highlighted how downstream industries can transform raw material exporters into competitive value-added product producers.

Saribua emphasized that, if managed sustainably, such investments can provide long-term economic and environmental benefits. Highlighting potential investments in the IKN and the Batang Integrated Industrial Estate, she noted opportunities in renewable energy, infrastructure, advanced manufacturing, and downstream industries, with strategic collaborations offering significant prospects for economic growth and job creation.

During the event, US Pizza, the third-largest fast-food chain in Malaysia, signed an Investment Announcement, demonstrating its commitment to investing in Indonesia. US Pizza is committed to expanding its business by opening approximately 30 new outlets in Indonesia with a total investment of 10 million Malaysia ringgit, equivalent to 36.7 billion rupiah.

The Indonesian Consul General in Penang, Wanton Saragih, stated that the signing of the Investment Announcement demonstrated the Indonesian Consulate General in Penang's commitment to promoting Foreign Direct Investment (FDI) into Indonesia. He emphasized the role of the Indonesian Consulate General in Penang in promoting Indonesia's economic potential to businesses in Penang, Kedah, and Perlis.

The forum continued with face-to-face meetings, providing participants with the opportunity to discuss potential collaborations and explore investment opportunities.