Head of Capital Investment Coordinating Board (BKPM) Thomas Lembong said President Joko Widodo held a business meeting with a number of Australian business investors on his first day in Australia.

The Indonesian president discussed issues on cooperation in mining and tourism sectors.

“There were approximately 10 companies and two associations, accompanied by a number of representatives from the Australian government. The discussion included issues on mining, especially gold, as it has high investment value,” he said in Sydneys Shangri-La Hotel on Saturday (Feb. 25).

The investment value in the gold mining sector, is recorded to be at 7 to 13 trillion rupiah for each corporation, he stated.

The Agency Head further stated that the gold mining sector currently acts as a contributor for foreign exchange and is currently performing very well.

As for the tourism sector, Lembong said that Australia is a nation with strong maritime embodiment and spirit.

“Australia is very strong country with a strong culture, and the people are keen on spending their leisure time on a ship,” he noted.

The agency noted that there are a number of Australian companies that are currently building marinas in Lombok and Rajaampat, aimed at expanding Indonesias tourism sector.

Although Australias investment in Indonesias tourism sector is not significant yet, he believed that the construction of the marinas can open new investment sectors in a number of tourist destinations.

“Furthermore, supporting services and tourism can also generate foreign exchange for the country. All foreign tourists who sail through Indonesias islands pay their spending with foreign currencies. In the beginning, it may not appear to be that significant, but it will surely affect the people and job field,” he remarked.

He also said that Widodo had listened to all the needs and complaints of Australian investors in a bid to strengthen both countries economy.

“We should not be overwhelmed by excessive regulations. The president even stated that this was a fragmentation, and if each region comes up with their own regulations, standards and formats, then it is like turning one massive market into hundreds of smaller ones,” he explained.

In the beginning of March, Indonesia will host the Indonesia-Australia Business Meeting in Jakarta, which will also open the opportunity for both countries to strengthen their cooperation in the investment sector, he asserted.

The BKPM targets Australias investment in Indonesia to reach US$3 billion, or Rp39 trillion, in the next 3 to 5 years.

source: antaranews.com