To encourage increased trade and investment cooperation with the United Arab Emirates (UAE), Airlangga took advantage of a working visit to become an honorary panelist at the annual World Governments Summit, by meeting and receiving several delegations of multinational companies from UAE, one of which was Lulu Group International (LGI) in Dubai, United Arab Emirates on Tuesday (11/02).
At the meeting, Yusuff Ali Musaliam Veettil Abdul Kader as Chairman & Managing Director of LGI expressed LGI’s commitment to increase investment in Indonesia. LGI is a conglomerate company with business entities in various parts of the world. Established in 2000, LGI has now become one of the major contributors to the Gulf region’s economy with a turnover of USD8 billion. Currently, LGI’s business is spread throughout the world through a network of subsidiaries engaged in various fields of retail, manufacturing, trade in goods, and real estate.
In Indonesia, LGI is present through its subsidiary Lulu Retail which is engaged in the supply of various kinds of goods including basic goods. There are currently 4 (four) Lulu Hypermarket branches in Indonesia located in Cakung, Tangerang, Sawangan and Bekasi.
Yusuff expressed LGI’s interest in expanding its investment in Indonesia by building a Meat Processor Plant. The plant includes the process of preparing raw materials, forming, frying, freezing, and packaging products with plans to produce and market sausages and meatballs.
‘We guarantee that the products produced will have halal certification, and the price of the products sold will be cheaper than products from other countries,’ said Yusuff.
Coordinating Minister Airlangga responded positively to LGI’s investment expansion plan to build a meat processor plant and encouraged LGI to expand its investment and retail network in other major cities in Indonesia.
‘The Government welcomes LGI’s investment expansion plan in Indonesia, especially in the construction of a meat processor plant, and LGI must guarantee the halalness and quality of the products produced,’ said Airlangga.
Indonesia currently has various facility and incentive schemes that can be maximised by LGI as a production centre and investment realisation, one of which is through Special Economic Zones (KEK), which offer various benefits and incentives for investors, including tax incentives and facilities, competitive workforce, integrated infrastructure, and more efficient customs procedures.
Airlangga encouraged LGI to increase investment in Indonesia as well as promote existing SEZs in Indonesia, one of which could be a suitable area for the construction of meat processing plants and processing of other food products.
The Minister was accompanied by Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso, Indonesian Ambassador to the United Arab Emirates Husin Bagis, and Consul General of the Republic of Indonesia in Dubai Denny Lesmana. (es/dp/f/Dep2)
Source : Pers Release Coordinating Ministry for Economic Affairs of the Republic of Indonesia
