September 19, 2012

Indonesia to invite Australia to invest on cattle, meat industry

Australian investors will be invited by the head of the Indonesian Investment Coordinating Board (BKPM), Chatib Basri to invest in Indonesia, especially in the cattle sector and the meat-canning industry.

"I am going to Australia tonight to hold meetings with Australian businessmen to promote investment potential in Indonesia," said Chatib, after a speaking at the "Indonesia Investment Forum- Capitalising on Indonesia's Economic Strategic" platform, here on Tuesday (Sep 18).

Chatib said that he will also engage local government staff from three regions, namely East Java, Banten and Gorontalo, who are ready to offer investment opportunities in their regions.

"This time we are offering investment cooperation in the cattle sector. Indonesia has been importing meat from Australia so far. This is a potential cooperation that should be realised," said Chatib.

The cooperation can be achieved in the form of cattle breeding and beef processing-plant establishment. However, Chatib did not specify the value of the targeted investment that is being promoted.

A number of Australian mining corporations like BHP Billiton, Rio Tinto and Thiess have already invested in Indonesia. Experts believe Australia would also be interested in investing in financial services and natural resources.

In 2010, Australian investment in Indonesia reached the figure of US$214.2 million. The corresponding figure for total trade between Indonesia and Australia amounted to US$8.3 billion.