The Lippo Group, one of Indonesia’s largest conglomerates, has called for deeper ties between the Japanese and Indonesian business communities to help realize the Southeast Asian country’s high investment potential over the next decade.
Japan has long been a major source for foreign direct investment in Indonesia, influencing a wide range of sectors, from mining and basic industries to automotive and public transportation.
“Japan has been critical to Indonesia’s modern development. Today, as Indonesia continues to be a go-to market for textile, automotive, chemical and technology manufacturing, and more, Indonesia continues to be an attractive, high-potential business opportunity,” Lippo Group chief executive James Riady said on the sidelines of the Nikkei Asia300 Forum in Tokyo on Monday.
“We began our relationship with the Japanese business community over 30 years ago. It began with investment projects with various reputable Japanese banks,” James said.
“Today, we are proud to have partners in a wide range of industries, from telecommunications to data centers, property to health care, financial technology to e-commerce. We are excited about deepening and widening this range of partnerships,” he added.
Among the Lippo Group’s Japanese partners is Itochu Corporation, which is involved in the group’s health care business outside Indonesia. Lippo has worked with Mitsui & Co. since 2014 to expand mobile broadband services in Indonesia.
Lippo opened the way for the Toyota Tsusho Corporation, the trading arm of the Toyota Group, in the Indonesian property market for the first time in 2013 with a hotel-style apartment tower project in Bekasi, West Java.
Mochtar Riady, Lippo Group founder and chairman, used the Nikkei Asia300 Forum as an opportunity to thank Japanese partners and friends for putting their trust in the Lippo Group and the Indonesian economy. The Lippo Group believes in growing with partners and working together to achieve long-term results, he said in a statement.