12TH WIEF Presents Opportunities For More Malaysia-Indonesia Business Collaborations

KUALA LUMPUR, June 24 (Bernama) -- The 12th World Islamic Economic Forum (WIEF) will serve as a good platform for potential tie-ups between Indonesian micro, small and medium enterprises (MSMEs) and Malaysian investors in the area of infrastructure. Indonesia's largest state enterprise, PT Pertamina President, Tanri Abeng, said infrastructure was currently very high on Indonesia's priority list as it would lead to improved connectivity. "Malaysians have better access to financing, which makes it very attractive for Indonesians, mainly the private sector and state-owned enterprises, to invite them as their partners. "More than 90 per cent of Indonesia's labour force comes from the MSMEs and most of them have a hard time to access financing from banks," he told reporters after the 12th WIEF Editors' Roundtable here Thursday. Also present were WIEF Foundation Chairman Musa Hitam, who chaired the roundtable, and Khazanah Nasional Bhd's Executive Director of Investments and Head of Strategic Management, Ahmad Zulqarnain Onn. Tanri said the Indonesian government, under the leadership of President Joko Widodo, has increased efforts in improving ease of doing business, namely, eliminating 3,150 rules and regulations to expedite business processes. He said the government acknowledged that delays would mean extra costs for businesses and these proactive measures would improve companies' profitability. Musa said emerging markets should tap the abundant business and investment opportunities in Indonesia. "The Indonesian government has a key focus on halal tourism, infrastructure development, MSME development, Islamic finance, human capital development and creative economy," he added. Among the confirmed attendees at the 12th (WIEF), scheduled for Aug 2-4 in Jakarta, Indonesia, include Prime Minister Najib Razak, Indonesian President Joko Widodo, King Abdullah II bin Al-Hussein of Jordan, Sri Lanka Prime Minister Ranil Wickremesinghe and Bangladesh President Abdul Hamid. Themed "Decentralising Growth, Empowering Future Business", the forum is expected to discuss, among others, improving funding access for MSMEs, integrating MSMEs into digitised trade and shariah bonds for infrastructure financing. -- BERNAMA