Alberto Rubio
The first Indonesia-Spain Business Forum brought together more than 50 businessmen from both countries at the Indonesian Embassy in Madrid on 29 February, coinciding with the visit of a large delegation from the Indonesian Chamber of Commerce and Industry (KADIN).
The delegation was led by KADIN’s Vice President for Investment, Tony Wenas, and the Chairman of KADIN’s bilateral committee for Spain and Portugal, Irman Alvian. Both highlighted in their speeches the new business opportunities that Indonesia offers to Spanish companies in sectors such as renewable energies or agricultural production, among others.
During the meeting, many Spanish businessmen with investments in Indonesia, and vice versa, shared their experiences. All of them highlighted the legal security and the ease of establishment as fundamental elements for the development of their activities. In this sense, the Forum is designed to contribute to improving economic, trade and investment relations between the two countries.
The event was attended by dozens of Spanish companies from various sectors, including animal feed, renewable energies, biodiesel, agricultural products, wine, crew recruitment companies, and business associations.
During the period January to October 2023, the value of Indonesia’s exports to Spain reached USD 2.461 billion, a slight decrease of 8.53% year-on-year due to inflation and the war against Ukraine. However, Indonesia is still in a trade value surplus vis-à-vis Spain.
Over the period January-September 2023, Spain invested US$19,689,800 in 543 projects in Indonesia, a marked improvement of 35.95% year on year. Spain’s largest investment was in the tertiary sector.
Spanish tourism to Indonesia has also shown good figures in recent years. Specifically, 106,581 Spanish tourists visited Indonesia in 2023. A figure that sets a new record, since the previous highest figure was reached in 2018: 85,560 visitors.
