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Canada optimistic about investing in Indonesia, ASEAN: Survey
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Upbeat — Canadian Ambassador to ASEAN Marie-Louise Hannan (second left), Canada-ASEAN Business Council (CABC) president Wayne Farmer (center), Indonesian Ambassador to Canada Teuku Faizasyah (second right) and former Quebec prime minister Jean Charest (right) pose for a photo after a two-day forum held by the CABC in Jakarta, which ended on Thursday. (JP/Liza Yosephine)
C
anadian business players are highly optimistic about the ASEAN market, with 95 percent of respondents to a recent survey expecting to see positive investment opportunities in the future.
The survey, a collaborative initiative undertaken by the Canada-ASEAN Business Council (CABC) and its affiliates, saw an increase in optimism levels, which stood at 81 percent when the previous survey was undertaken in 2013.
“Indonesia is the anchor country of the relationship between Canada and ASEAN,” CABC honorary chairman Jean Charest said during a press conference after a two-day forum hosted by the council in Jakarta on Thursday.
He pointed out that Indonesia's large population and economic strength within the region were important factors for development in ASEAN.
CABC president Wayne Farmer said significant interest in investing in Indonesia had been expressed by Canadian businesses during the forum. Among the top industrial sectors deemed attractive for investors were infrastructure, energy, agriculture and environmental management and services, he added.
Farmer highlighted that the forum was a high-level networking and dialogue opportunity; therefore, he could not convey potential investment values.
When asked about challenges faced by Canadian business players when investing in Indonesia, Farmer stressed there was a need for the government and private sector to raise awareness and inform businesses in Canada about the opportunities available in the country.
"More work needs to be done in Canada to identify investment opportunities available for Canadian businesses in Indonesia," Farmer told The Jakarta Post on the sidelines of the forum.
The survey revealed that other challenges frequently cited by respondents in terms of conducting business in ASEAN included inconsistent enforcement of laws and regulations, difficulty in obtaining reliable and cost-efficient skilled labor, corruption and preferential treatment of local firms.
Indonesian Ambassador to Canada Teuku Faizasyah said the government was committed to tackling the issues, especially those related to corruption. The establishment of the Corruption Eradication Commission was evidence of Indonesia’s efforts to combat corruption, he said.
Sharing feedback he received during the forum, Faizasyah said fears of corruption sometimes turned out to be unfounded as many business players claimed they had never experienced it first-hand, although widespread rumors of deep-rooted corruption in Indonesia had made them wary. (ebf)
