Invest Hong Kong and the Indonesian Investment Co-ordinating Board today signed a memorandum of understanding pledging mutual co-operation on investment promotion exchanges and best practices.
The pact was signed by Acting Director-General of Investment Promotion Charles Ng and Indonesian Investment Co-ordinating Board Chairman Franky Sibarani.
"This MOU is the ninth that we have signed with a country along the Belt & Road routes. Under the Belt & Road Initiative and as a 'super-connector' between Mainland China and the ASEAN region, Hong Kong could provide an excellent platform for Indonesian companies to tap into the vast Mainland market and for Mainland companies to explore the ASEAN market," Mr Ng said.
Mr Sibarani noted that Hong Kong has always been one the biggest foreign investors in Indonesia and is an important world financial, trading and investment hub, as well as a gateway for accessing East Asian markets, adding that Indonesia offers a unique gateway for accessing the ASEAN markets and a production base for international export markets as the 10 Southeast Asian countries are now integrated in one single market and production base within the ASEAN Economic Community.
He said the agreement will induce inward and outward investment flows, the exchange of information on potential investment opportunities, as well as investment co-operation between the two economies.
It provides a framework to enhance Hong Kong and Indonesia's close relationship in promoting both inward and outward investment.
Under the pact, both sides will exchange information on the investment environment and investment opportunities, promote investment between the two places and share their experience in attracting foreign investment and best practices.
The two sides will also encourage interested companies to set up or expand their business in the other jurisdictions.
