TEMPO.CO, Jakarta – The Ministry of Investment officially launched the Bali Compendium as one of the outcomes of the agreement in the Investment Group during the Ministerial Level Meeting of G20.

Minister of Investment Bahlil Lahadalia explained that the Bali Compendium was prepared to support the importance of mutual respect among G20 countries in determining the direction of their respective investment policies.

Because according to Bahlil, so far some countries felt they had more rights to regulate other countries. He felt it had nothing to do with current global developments. In the meantime, the Bali Compendium will later serve as a guide for all G20 countries.

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“Indonesia cannot be equated with America or other European countries. We won independence through struggle. We have eastern customs, we have a different culture from them. It’s time for them to equate it with investing habits,” he said in a statement written on Monday, November 14, 2022.

The Bali Compendium was prepared in collaboration with the United Nations Conference on Trade and Development (UNCTAD). UNCTAD Secretary-General Rebeca Grynspan said the Bali Compendium contains various relevant experiences related to promoting investment sustainable development of all G20 countries and other partner countries.

The Bali Compendium will serve as a basis for policy makers from various G20 member countries to develop investment promotion strategies and ways to promote the right kind of investment for sustainable development.

“This compendium comes at the right time as the world is in crisis, with severe inequality and chronic instability. This compendium offers smart solutions to the investment challenges we face,” said Rebeca.

Apart from the Bali Compendium, the Ministry of Investment has also launched the Sustainable Investment Guidelines (SIG) or the Sustainable Investment Guide. These guidelines will become the Indonesian government’s commitment to a green economy. Bahlil said the preparation of the Sustainable Investing Guide was the result of collaboration between his ministry and the Earthly Economic Coalition, KADIN, APINDO, representatives of community organizations, academics, investors, financial institutions and MSME actors.

PRINCESS RIANI SANUSI

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