Indonesian businesses keen to invest in energy sector

Indonesian businesses are keen on investing in power and energy sectors of Bangladesh, as they see immense potential in the south Asian country. 

More investment and joint collaboration are required to increase the trade volume between Indonesia and Bangladesh as there is huge trade gap between the two countries, said Rina P Soemarno, Indonesian ambassador to Bangladesh.

She also said Indonesian investors are interested to invest in Bangladesh’s energy and power sectors. She said this at the inauguration ceremony of Indonesia fair 2019, organised by the Embassy of the Republic of Indonesia in Dhaka for the second time at the International Convention Center Bashundhara (ICCB) recently.      

The three-day fair is focusing on trade, tourism and investment in between the two countries. The bilateral trade volume between the two nations last year reached $1.97 billion, most of it in favour of Jakarta.

According to Export Promotion Bureau (EPB), Bangladesh exported only $55 million worth of goods in 2017-18, up from $46.40 million in 2016-17. 

“Both Bangladesh and Indonesia are developing countries with similarities in many aspects,” she said, adding that the two countries have been trusted partners for each other's development for many years. Several countries, including Russia, United States, Germany and Japan are interested to invest in the country’s power and energy sector for being secure and investor-friendly.

The ministry concerned is considering the matter, an official said. 

Earlier, the government signed a MoU with US Company GE to build a 3600 MW LNG-based power plant. 

On the other hand, German company Siemens has signed an MOU with the Bangladesh government to build a 3600MW LNG-based power plant in Payra. They plan to build another power plant with similar capacity at Maheshkhali in Cox’s Bazar.