Indonesia, Australia Sign MoU to Enhance Bilateral Investment Cooperation

Jakarta, The Gulf Observer: The Indonesia Investment Authority (INA) and the Embassy of Australia have signed a memorandum of understanding (MoU) to strengthen bilateral investment cooperation. The MoU was signed on June 28, 2024, by Ridha Wirakusumah, Chairperson of the INA’s Board of Directors, and Penny Williams, Australian Ambassador to Indonesia, according to a statement from the INA received here on Tuesday.

“This MoU is a crucial step to attract and boost Australian investments in Indonesia. Through this partnership, we aim to enhance the value of Australian investments in vital sectors that support Indonesia’s growth and development,” Wirakusumah stated.

This partnership follows the “Invested: Australia’s Southeast Asia Economic Strategy to 2040” program, announced by Australian Prime Minister Anthony Albanese in Jakarta in September last year. The program aims to increase Australian investments in Indonesia, supported by a new investment deal team from the Australian Embassy in Jakarta.

The team will coordinate with private actors, governments, and financing services to stimulate the flow of investment from Australia to Indonesia. Ambassador Williams emphasized that the investment team will collaborate with the INA to identify potential investment projects and ensure that Australian investors are ready to seize these opportunities.

Williams further noted that the embassy’s team will promote projects in Indonesia to Australian business actors to create business opportunities and jobs in both countries. She highlighted Australia’s commitment to advancing strategic economic cooperation with Indonesia, identifying Indonesia as one of Australia’s main partners.