Transparency, regulations should be convincing; Indonesian envoy

Colombo, June 17 (Daily Mirror) - Indonesian Ambassador to Sri Lanka, Dewi Gustina Tobing was the latest foreign envoy to assert that transparency and regulations related to the investment climate in Sri Lanka should be convincing to the private sector.

The Ambassador who is also the Dean of the Diplomatic Corps in Sri Lanka responded to a query about her assessment of the investment climate in Sri Lanka, at a regular roundtable discussion organized by Pathfinder Foundation in Colombo.

“Sri Lanka is a strategic nation. We need to see development by encouraging investment. I know the government of Sri Lanka is doing a lot to harmonise regulations. But again, it has to be convincing about transparency, and also all regulations should be favourable to the private sector. I believe an improved investment climate and the strategic position will bring more investors to the country,” she said.

Asserting that Sri Lanka and Indonesia are countries with similar backgrounds, she said that the two economies are more complementary rather than competitive.

“We have the same concerns and similar backgrounds. Indonesia is an agricultural and industrial country. I also witnessed that Sri Lanka has a good Industrial base. We try to bring more benefits to the country. We try to bring in value to the country. At the same time, we also like to share the benefits with our friendly country. In Indonesia, many of our industries are in the intermediate process. It will be beneficial for industry in Sri Lanka because the resources could help Sri Lanka's economy,” she said.

She also said there are indeed big differences between the two nations.

She said that it was important for Sri Lanka to consider how it could better benefit from Indonesian products in supplying its domestic industries. Such supplies could also be channelled into local and international markets, creating wider commercial opportunities.

What stands out is the need to view the relationship in terms of competitiveness and complementarity. Both countries produce similar commodities, such as coconut in Sri Lanka, she said.

However, this should not be seen purely as competition. Instead, it can be understood as a mutually complementary relationship. At present, Sri Lanka already imports a considerable volume of coconut oil from Indonesia, according to her.

She said Indonesia is currently entering a new phase of national development, building on a stable political environment, resilient economic performance, and active international engagement.

Indonesia is focused on strengthening its competitiveness, resilience and long-term growth prospects. Under the leadership of President Prabowo Subianto, the government has introduced a number of key initiatives aimed at preparing Indonesia for opportunities and challenges of the future. These efforts form part of Indonesia's broader journey towards the 'Golden Vision 2045'', our long-term vision of becoming a developed, prosperous and globally influential nation by the centenary of Indonesia's Independence, she added.