Indonesia secured investment agreements in alternative business sectors worth approximately USD 1.26 billion at the High-Level Forum on Multi-Stakeholder Partnerships (HLF MSP) and the 2nd Indonesia-Africa Forum (IAF) Joint Leaders Session 2024 in Bali. This substantial investment potential offers significant opportunities for Indonesian industries to expand their market presence in Africa. Director for Africa at the Directorate General of Asia, Pacific, and Africa, Ministry of Foreign Affairs, Dewi Justicia Meidiwaty, highlighted the potential in the cosmetics sector, citing PT Tirta Ayu's successful market expansion efforts in Zimbabwe through an upcoming franchise agreement. Additionally, PT Tirta Ayu has plans to establish a cosmetics factory in Eswatini, further diversifying Indonesia's market presence in Africa, particularly in manufacturing, textiles, chemicals, and footwear.

Moreover, four Tanzanian companies—PT Essa Industries, Tanzania Petroleum Development Corporation (TPDC), Tanzania Fertilizer Regulatory Authority (TFRA), and Tanzania Investment Center (TIC)—signed a Memorandum of Understanding (MoU) with Indonesia to develop a natural gas processing plant for ammonia/fertilizer production. This collaboration aligns with both nations' efforts to bolster future food security. Nigerian businesses have also caught the attention of Indonesian entrepreneurs, with PT Saputra Global Harvest planning to sell coal-powered fertilizer production equipment in the country. Beyond cosmetics, fertilizers, and agricultural technology, PT Investasi Cemindo Gemilang has acquired the Alpha Ciment SA cement plant in Madagascar through a partnership with Gamma Civic, Mauritius. These various business agreements reached at the Indonesia-Africa Forum II are expected to pave the way for continued cooperation and legal certainty, facilitating business expansion in both regions.

Source: https://www.metrotvnews.com/read/NLMC2prE-kosmetik-dan-pupuk-indonesia-jadi-sorotan-di-iaf-2024