The Indonesia-Europe Business Forum (IEBF) held at the Ritz-Carlton Hotel in Jakarta on October 17, 2023, by the Ministry of Foreign Affairs of the Republic of Indonesia, successfully established trade and investment cooperation worth USD 72 million (IDR 1.131 trillion) with Bulgaria. The MoU encompasses an agreement for the supply of raw materials for rendang worth USD 34 million (IDR 534 billion) over four years. It also involves a joint venture business cooperation for the establishment of a meat processing plant worth USD 38 million (IDR 597 billion). This cooperation is a continuation of the successful establishment of a rendang factory in Bulgaria. The collaborative commitment between Bella Group and PT. GMU is a continuation of the establishment of the rendang factory in Bulgaria, which subsequently thrived, leading Bulgaria to be interested in investing in the establishment of a meat processing (food industry) plant in Indonesia to meet the demands of both the Indonesian and international markets. This cooperation would positively impact the national economy, open up employment opportunities, and enable Indonesian products to compete in international markets through the realisation of the Food Industry project and the "Rendang Goes to Europe" program.
The Ambassador of the Republic of Indonesia to Bulgaria, Albania, and North Macedonia, Iwan Bogananta, successfully implemented the "Rendang Goes to Europe" plan since the beginning of the year, which included an investment commitment for the establishment of a factory by Bella Group Ltd. in Bulgaria and the expansion of the Indonesian food market to Europe. For the initial realisation, about 40 tons per month of rendang spices from Indonesia are scheduled to be shipped starting from early November 2023. The estimated investment for spice shipments is USD 34 million (IDR 534 billion) with a four-year cooperation. With a total production capacity of 600 tons per month, the Bella Group rendang factory will start shipping approximately 40 tons of rendang spices from Indonesia at the beginning of next month. The significance of this project is closely related to the "Rendang Goes to Europe" program, which is part of the "Indonesia Spice Up the World" mission initiated by the President of Indonesia, Joko Widodo. This investment aims to meet the demand for processed meat products in Indonesia, including halal products, using the advanced technology that has been applied and developed in his company.
