Russian Travel Digest

Results of Russia-Indonesia Business Forum, August 4, 2017

On August 4, 2017, just another Russian-Indonesian Business Forum was held in Moscow organized by Business Council within the framework of the traditional Indonesian Festival and by the initiative of the Embassy of Republic of Indonesia in Russia and the Ministry of Tourism of Republic of Indonesia with the support of the Department of Culture of Moscow.

During the Forum there was an active discussion of the current standing and near-term prospect of bilateral trade and economic relations, as well as presentation of investment opportunities in 9 provinces of Indonesia.

In his opening speech, the Minister of Commerce of Republic of Indonesia Enggartiasto Lukita particularly noted: "The bilateral trade turnover for the first five months of 2017 increased by 14% in comparison with the same period of the last year. Our common goal is to consolidate and develop this positive trend".

According to the participants of the plenary session, today more than 30 large-scale projects are included in the current roadmap of strategic programs of Russian-Indonesian cooperation.

Deputy Minister of Industry and Trade of the Russian Federation Oleg Ryazantsev noted the great interest of Russian companies to participate in the creation of mineral processing facilities in Indonesia.

Among them - the company "Blackspace" - has already become the largest Russian investor in the region. Under the management of "Blackspace" several major projects are operating: the extraction of high-calorific energy coal in Kalimantan, factory facilities in South-Eastern Sulawesi, where the first line of 60 for production of ferronickel has already been launched. The large-scale work of "Rusal" corporation in the field of consolidation of raw material stocks is completed, which is necessary to ensure the long-term uninterrupted operation of the bauxite-alumina complex planned for construction in West Kalimantan.

The Russian and Indonesian Forum participants agreed to establish bilateral cooperation in the energy sector. The continued high growth rate of Indonesia's economy - at the level of 5% of GDP growth per year - will be determined by the possibilities of adequate expanding capacities of electricity generation.

The Memorandums of Cooperation between the Chambers of Commerce and Industry (CCI) of Moscow and the special metropolitan area of ​​Jakarta, between the CCI of Samara and the province of Central Java, as well as between the multi-profile Russian company JSC "Institute Orgenergostroy" and the Indonesian holding PT Surveyor Indonesia (Persero) – all of this are witness of mutual interests.

More than 200 Russian entrepreneurs who took part in the Forum paid particular attention to the presentations of the Indonesian regions which were presented by their governors and heads of regional services aimed on promotion of investment, industrial, infrastructure and tourism projects.