Ministries Team Up to Grow Overseas Presence of Indonesia's State-Owned Enterprises

JAKARTA, KOMPAS.com – Two government ministries have joined forces to boost the overseas expansion of Indonesia's state-owned companies under the Go Global BUMN program.

Indonesia’s Ministry of State-Owned Enterprises (BUMN) and the Ministry of Foreign Affairs inked a deal on Friday, July 17 to form a joint team that will support the expansion of  state-owned companies in international markets.

“Through the signing of this memorandum of understanding, the foreign affairs ministry and state-owned enterprises ministry will establish a team to support the Go Global BUMN program,” said Foreign Affairs Minister Retno Marsudi.

“The team aims to support BUMN business expansion in the international market and to identify inbound and outbound investment opportunities,” Retno added.

BUMN Minister Erick Thohir underscored the importance of collaboration between agencies and ministries to bring Indonesia into the international market.

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“Following the directives from President [Joko Widodo], Indonesian diplomacy should not only focus on political cooperation but also to develop our business footprint,” Erick said.

"But the Go Global BUMN program alone is not enough, we also want to improve the supply chain in Indonesia. We know that it has only been a market, but how long is it going to last?" he said.

The former Inter Milan boss said he hoped that through this collaboration, Indonesian-made products will be available around the world. 

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"Indeed, soon, I will work with the foreign affairs minister to immediately realize the things we agreed on. God willing, the benefits will be for the people. It is the time for Indonesia to be equal, even greater than other countries,” he said.

(Writer: Akhdi Martin Pratama | Editor: Sakina Rakhma Diah Setiawan)

Source: https://money.kompas.com/read/2020/07/17/111000526/erick-thohir-dan-menlu-retno-mau-bawa-bumn-go-global-.