Malaysia Expands Investments in Indonesia | Daily Express Online

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Malaysia Expands Investments in Indonesia

Posted on: Thursday, November 11, 2021

By: Bernama

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JAKARTA: Malaysia continued to expand its investments in Indonesia through the signing of five Memoranda of Understanding (MoUs) and agreements that will be sealed by the private sectors of the two countries worth $ 3.1 billion (12, RM 8 billion) on Wednesday, Prime Minister Datuk Seri said. Ismail Sabri Yaakob. The prime minister said Malaysia’s total investment in Indonesia was $ 12.53 billion while Indonesian investment in Malaysia was $ 1.16 billion in the second quarter of this year. “I think Malaysian investments in Indonesia are important,” he told reporters at a press conference with Indonesian President Joko Widodo in Istana Bogor in conjunction with his first three-day official visit to the country. , which started on Tuesday.

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Ismail Sabri also called for the involvement of Malaysian businesses in the development of Kalimantan, which shares a border with Sabah and Sarawak. Indonesia is building its new capital in East Kalimantan.

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The country is an important trade and strategic partner for Malaysia, with total trade between them worth $ 15.67 billion in 2020, according to the prime minister.
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