EDB in collaboration with Sri Lanka Embassy in Jakarta organized a briefing session to discuss on “Indonesian Investment opportunities for Foreign Investors” with Directorate of Investment Promotion of Indonesia and the Ministry of Investments of Indonesia on 12^th July 2024.

The main focus of this session was on the construction and power and energy sectors, to provide Sri Lankan industry representatives with valuable insights on Investment/tender opportunities available for Foreigners in Indonesia in the construction and Energy sectors, how a company can become a part of Indonesian project, what are the requirements to be met, Limitations in financial transactions and Tax structure for foreigners. The discussion was conducted for the industry representatives of Construction services and power and energy services sector to make them aware potential business partnerships in Indonesia. This awareness will help to Sri Lankan industrialists to develop effective business strategies for the Indonesian market in coming years.

The guest speakers from Directorate of Investment Promotion of Indonesia and the Ministry of Investments of Indonesia to the discussion and Mr. Cahyo Purnomo, Director of Investment Promotion for East Asia, South Asia, Middle East & Africa, and Mr. Hendro Prasetyawan, Vice President Hydro Energy PT PLN (Persero) were delivered industry presentations on “Investment Policy and Opportunities in Indonesia” and “Renewable Energy Procurement System in Indonesia.

Mr. Cahyo Purnomo highlighted that Indonesia has competitiveness is upfront in the IMD World Competitive ranking and now in top three countries in Asia as per the economic performance, business competitiveness, government efficiency and infrastructure. Also the 5 main sectors of investments from Sri Lanka during the last 5 years were food industry, Chemical Pharmaceutical Industry, Trade, and Residential, industrial and office area. Also Indonesia is very open for capital movement and offers nondiscriminatory treatment for foreign investors taking a balance approach on domestic investment and foreign investments. For Electricity projects there is an Investment Scheme where maximum allocation for foreign investments is 10 MW up to 100% for EPC (Contractor) , PPU (Private Power utility), IPP (Independent Power Producer) and PPP Public Private Partnership). The significant fact that for business fields in green economy provides 100% foreign ownership. Highlighting the fact, that the Indonesia is opened for foreign skilled professionals under working Visa/permits in the fields of Engineers, Directors and Technical experts so on.

Mr. Hendro Prasetyawan, expressed that in the renewable energy sector projects, many investors come from Korea, Europe and china and they are contracted with the local partners and engage in projects under open tenders.

Representing the Sri Lanka Construction and Power and Energy Industry Associations, Mr. Priyantha Perera, President, Major Constructors of Sri Lanka (MCSL), Archt. Jayantha Perera, President, Chamber of Construction Industry Sri Lanka (CCISL) and Mr. Firdowsy Ismail, Small Hydro Power Association/Director/ CEO Eco Power Group were participated and representatives from several private companies were participated.

Represnting the Sri Lanka embassy Ms. Nilanthi K. Pelawaththage, First Secretary, Embassy of Sri Lanka in Jakarta and Mr. Deepak Samtani, Chairman, Sri Lanka- Bangladesh Committee, Indonesian Chamber of Commerce and Industry were participated.

Ms. Indumini Kodikara, Director (Export Services) Export Development Board of Sri Lanka conducted the session. Ms. Kumuduni Irugalbandara, Assistant Director (Export Services) Export Development Board coordinated the event.