Indonesia, Switzerland sign MoU on trade, investment

At the signing ceremony (Photo: SwissCham Indonesia)

Jakarta (VNA) - Indonesia’s Investment Coordinating Board (BKPM) and the Swiss-Indonesian Chamber of Commerce (SwissCham Indonesia) have signed a memorandum of understanding (MoU) to boost trade and investment between the two countries.

The three-year memorandum of understanding will improve the mutually-beneficial investment climate between Indonesia and its partners.

Under the MoU, BKPM and SwissCham Indonesia will become dialogue partners and serve as liaisons for communication between the two countries. The two sides will encourage discussions related to investment policies, foreign direct investment (FDI), innovation and knowledge transfer.

Last year, Switzerland was the 10th largest foreign investor in Indonesia with 281 projects worth 599.8 million USD. These investment projects came from food and beverage companies, chemical and pharmaceutical, forestry, fisheries, among others.

According to Chairman of SwissCham Indonesia Chris Bendl, there are currently 150 Swiss companies operating in Indonesia, creating about 50,000 jobs.

With the signing of the MoU, SwissCham hopes to continue its contribution in promoting the ease of doing business in Indonesia and to increase investments from Swiss companies to Indonesia and vice versa, Bendl said./.

VNA