Participation at “Outbound Investment Communication Forum for the Indonesian Palm Oil Business Sector to Sub-Saharan Africa”
The "Outbound Investment Communication Forum for the Indonesian Palm Oil Business Sector to Sub-Saharan Africa," organised by the Ministry of Foreign Affairs of the Republic of Indonesia, the Centre for People's Economic Studies, and the Centre for Agrotechnology Innovation, Universitas Gadjah Mada, took place in
Yogyakarta on the 27th and 28th of June 2022. The Non-Aligned Movement Centre for South-South Technical Cooperation (NAM CSSTC) as well as a number of African private sectors, including the Tanzania Investment Centre, Farming Energy for Better Livelihoods in Southern Africa (FELISA) Co. Ltd, the Akwa Ibom State Technical Committee on Foreign Direct Investment (FDI), and the Apical Group, attended the forum.
The forum evolved into a discussion forum for Sub-Saharan African countries' oil palm investment opportunities, challenges, and strategies.
Given the presence of African countries as NAM member countries, Acting Director of NAM CSSTC Diar Nurbintoro expressed his views on the importance of developing the palm oil sector in order to increase palm oil productivity at the national and business levels, as well as to support the sustainable use of natural resources, land, and water in Africa. The initiative of private sector investment in Sub-Saharan Africa in Indonesia were also lauded.
Acting Director of NAM CSSTC believes that in order to support successful investments, investors for oil palm business institutions in Sub-Saharan Africa, particularly those that oversee smallholders, must take a proactive approach. Acting Director also emphasised the importance of making it easier for small oil palm entrepreneurs to do business.
The use of digital media to promote investment is also strongly advised. Digital media is thought to be a means of connecting investors to previously unreachable investment recipients. By allocating investment to institutions that have never received investment, this can create equity in palm oil financing.
Acting Director of NAM CSSTC also shared experiences in implementing technical cooperation at NAM CSSTC that was synergized with investment activities. According to Acting Director, it is critical for investors to set realistic goals, such as requesting contributions from investment recipients that are proportionate to their economic capabilities. Furthermore, it is critical to plan for the need for additional funds, particularly for the provision of Human Resources such as experts and translators.
(For more information on the Acting Director of NAM CSSTC's intervention in the forum, please see the following file: [Link download PDF])