Antara News is reporting that the Indonesia Investment Authority (INA) and the Embassy of Australia have inked a memorandum of understanding (MoU) to step up bilateral investment cooperation.

According to a statement received from the INA on Tuesday (2/7/24), the MoU was signed by the chairperson of the INA’s board of directors, Ridha Wirakusumah, and the Australian Ambassador to Indonesia, Penny Williams, on June 28, 2024.

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

The partnership is a follow-up to a program called “Invested: Australia’s Southeast Asia Economic Strategy to 2040,” which was announced by Australian Prime Minister Anthony Albanese in Jakarta in September last year, says Antara News.

Wirakusumah said that the program is running to increase Australian investments in Indonesia, along with the help of the new investment deal team of the Australian embassy in Jakarta. Antara News reports that the team will work by coordinating with private actors, governments, and financing services to stimulate the flow of investment from Australia to Indonesia.

Meanwhile, Ambassador Williams said that the investment team will collaborate with INA to identify potential investment projects and ensure that Australian investors are ready to seize those opportunities.

According to her, the embassy’s team will strive to promote projects in Indonesia to Australian business actors to create business opportunities and jobs in both countries.

She further noted that Australia has committed to taking the strategic economic cooperation with Indonesia to the next level, adding that Indonesia is one of the main partners of Australia.

 

Source: Antara News

Stock image by jorono from Pixabay

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