Take advantage of various business opportunities in Indonesia

Malaysian businessmen should be aggressive in taking advantage of various business opportunities, arising as a result of the economic transformation currently taking place in Indonesia. Deputy Prime Minister Tan Sri Muhyiddin Yassin said the transformation involved the physical development of ports, dams, roads and power plants which is expected to contribute eight per cent to Indonesia's economic growth in 2019. "Malaysia welcomes the transformation efforts being undertaken by the Indonesian government under the leadership of President Joko Widodo and should be viewed positively by Malaysia and other ASEAN countries. "I believe Malaysian companies will be very willing to work closely with Indonesian firms in developing new projects in the country," he said during a meeting with the Indonesian Chamber of Commerce and Industry on Wednesday. The deputy prime minister is on a three-day working visit to Indonesia beginning Tuesday and has had discussions with Indonesian Vice-President Jusuf Kalla. Muhyiddin said Indonesia needed some US$420 billion in investments for its development projects between 2015 and 2019 with the private sector accounting for 40 per cent of that projected investment. He also said the economic integration through the ASEAN Community would also be a catalyst for trade and investment in the region and Indonesian businessmen were competitive enough to broaden their business in ASEAN and Malaysia. He also said businessmen in the region should obtain clear information about the ASEAN Community and avail themselves of the abundant business opportunities. Muhyiddin called on the Malaysia-Indonesia Business Council and the Indonesian Chamber of Commerce and Industry to step up ties between them in order to tap the business opportunities available in both countries. "I hope all the parties will identify business potentials and help each other in realising them," he added. For more business news, tune in to AWANI Biz on Astro channel 501.