Malaysian companies in Asean and newcomers adviced to contact Matrade for assistance

JAKARTA: Malaysian companies currently operating in Indonesia, as well as newcomers wanting to set up operations in the country, are advised to contact the Malaysia External Trade Development Corporation ( Matrade) for assistance.

Matrade Trade Commissioner in Jakarta, Naim Abdul Rahman said the office here would assist and facilitate the Malaysian companies to tap the huge Indonesian market.

“Getting advice from Matrade and utilising the existing network of Malaysian diaspora in the country is very important,” he said when met at a session with the Indonesia Investment Coordinating Board (BKPM) here yesterday.

He said Malaysian companies have also to take note of the negative investment list which stipulates those business fields closed to and open with conditions for investment in Indonesia.

Indonesia, with a population of almost 300 million and the largest market in Asean, has been an attractive market for Malaysian companies.

According to data from BKPM, Malaysia is the eighth largest source of investment for Indonesia with last year’s realised investment value at US$1.1 billion.

Malaysian companies already operating in Indonesia include Maybank, CIMB Bank, XL Axiata, Sime Darby Plantation, Petronas and Plus Expressways.

Naim highlighted that the minimum capital requirement for foreign firms to set up a company called PT PMA in Indonesia is 10 billion rupiah ( US$750,000).

This is irrespective of their size in the country of origin and are regarded as large corporations in Indonesia. — Bernama