Indonesian Business Luncheon & MOU Signing Between BKPM and SASOL Ltd


To increase the flow of foreign direct investment (FDI) to Indonesia, the Indonesian Embassy in London in cooperation with the Investment Coordinating Board of Indonesia (BKPM) has conducted a Business Meeting which was held at the Dorchester Hotel, London, on 3 December 2009. The Meeting was opened by the Ambassador of Indonesia, H.E. Mr. Yuri Octavian Thamrin, and featured Mr. Gita Wirjawan, the Head of the BKPM, as the keynote speaker. The Meeting, which is annually held in London, was attended by more than 50 executives from notable companies in the United Kingdom (UK) which represents various sectors such as mining, energy, pharmacy and retails. Mr. Wirjawan delivered his keynote address where he delivered an optimistic projection of Indonesia’s economy. Assuming a modest growth rate of 6-7 percent, he estimated that Indonesia’s GDP will reach US$ 25 – 40 trillion by 2050. In relation to the Government’s 100-day program, Mr. Wirjawan underlined the Government’s commitment in implementing a one-stop-shop policy in the investment area and increasing the ease of doing business for foreign investors. Meanwhile in his opening speech, Ambassador Thamrin expressed his appreciation and underlined the importance of UK as the second largest investor in Indonesia. He emphasized that Indonesia is committed to sustain and increase that relationship by maintaining its competitiveness and keeping a positive business climate for foreign investors in Indonesia. The Meeting was followed by one-on-one meetings between potential investors and BKPM officials who introduced Indonesia’s great potentials and aimed to link-and-match potential investors with the correct sectors where the investors can participate in. On the same day, the Head of BKPM has also signed a Memorandum-of-Understanding (MOU) between BKPM and Sasol Synfuels International (Pty) Ltd (Sasol) related to the coal-to-liquid project in Indonesia. The event took place at BKPM’s representative office in London. Based in South Africa, Sasol is well-known as a pioneering company that produces synthetic fuels and petrochemicals from coal. The cooperation between BKPM and Sasol, which is established through the signing of the MOU, is a follow-up of the visit of President Yudhoyono to South Africa in 2005. Through this cooperation, Sasol will conduct research and surveys on Indonesia’s coal reserve and quality with the aim of transforming it into synthetic oil. In the long run, this technology, which is used to process coals into synthetic oil, is expected to increase energy security, reduce dependency on imported oil and provides new jobs for Indonesia, in line with the blueprint of Indonesia’s long-term energy policy.