Indonesian Chamber of Commerce and Industry (KADIN) has identified Cambodia as a potential next chapter destination as the two nations aim to increase economic ties and attract more foreign direct investment.
KADIN which stands for ‘Kamar Dagang dan Industri Indonesia‘ in Bahasa Indonesia, or the Indonesian Chamber of Commerce and Industry is the umbrella organization of all Indonesian business chambers and associations.
Speaking to Cambodia Investment Review Mr. Edwin Setiawan as Chairman of KADIN Compartment Bilateral Committee Vietnam and Cambodia, Cambodia was a potential developing market for Indonesian businesses looking to grow within the region and added a trade exchange delegation between Indonesia and Vietnam would be introduced to improve business relationship.
“KADIN is an organization focused on all matters relating to trade, industry and services, and says it is “highly committed to tapping potentials and synergies of the national economy, offering a strategic forum for Indonesian entrepreneurs,” he said.
“It is privately financed and considered an independent spokesperson of private sector interests,” he added.
The organization also provides services including business matching, market research, lead generation and in-market representation through its KADIN Business Services Desk (KADIN BSD).
The desk provides an independent view on new opportunities and developments in Indonesia. Specifically, it offers an experience, network, and service; overall working closely with the Government of Indonesia and business stakeholders.
The aim is to be the first contact point for foreign companies and a conduit to the progressive Indonesian private sector.
Increasing Indonesia – Cambodia trade and investment with KADIN
Launched in 2021 the locally run Indonesian Chamber of Commerce in Cambodia (IndoCham) has been a signature project of the current Indonesian Ambassador and operates under the country’s national phrase Bhinneka Tunggal Ika “Unity in Diversity” (one is more).
Speaking at the launch of the chamber President Dalton Wong said Indocham in Cambodia shall build a strong community network for Indonesian businesses, professionals and employees to interact with each other, exchange views, ideas and best practices, and share or collaborate on business and investment opportunities for mutual benefit.
“At the same time, we will also create a gateway or platform so that Cambodian and foreign businesses, entrepreneurs and investors in Cambodia or that are interested in establishing a presence here will be able to network with each other and with Indocham members,” he added.
Cambodia Investment Review has also previously highlighted several successful businesses already operated by the Indonesian business community in logistics, F&B, recreational activities, banking and renewable energy investment.
In 2020, the total trade volume reached $588.65 million, a decrease of 10.96% compared to the same period in 2019 ($661.11 million).
From 2016 – 2020, the trend of trade balance between both countries was on average 7.53%, based on the data from the Ministry of Trade of the Republic of Indonesia.