MOU strengthens bilateral ties between Malaysia and Indonesia

21 October 2023

By AVV

JAKARTA: Strategic collaborations between Indonesia and Malaysia is highly aligned with the agenda at the ASEAN level (ASEAN Madani) through the concept of Malaysia Madani proposed by the Prime Minister of Malaysia, Yang Amat Berhormat Dato' Seri Anwar Ibrahim.

This is specifically in establishing strategic arrangements such as facilitating the movement of human capital and supporting the development of Malaysian companies to penetrate regional markets.

Datuk Ewon Benedick Minister of Entrepreneur Development and Cooperative said this during the signing of the Memorandum of Understanding between Bank Rakyat and PT MNC Kapital Indonesia today.

He said this this initiative will further strengthen good relationship between Malaysia and Indonesia where until today have maintained a strong relationship in the fields of economy, trade, and direct investment, which continues to grow.

He stressed that this is seen as consistent with the suggestion of the Malaysian Premier Dato' Seri Anwar Ibrahim during his recent attendance at the 43rd ASEAN Summit, where he called for the enhancement of economic integration among regional countries towards the creation of a more dynamic, inclusive, sustainable, and resilient economic plan.

“According to him, a stronger strategic understanding agreement should be implemented to develop market integration and facilitate the movement of goods, capital, highly skilled labor, and technology sharing with ASEAN countries, which I see as aligning with the Memorandum of Understanding (MoU) signed today by Bank Rakyat and MNC Kapital,” Ewon said.

He elaborated that the collaboration indirectly has the potential to have a positive impact, including efforts to ensure that the entry of Indonesian Migrant Workers (PMI) to Malaysia is in accordance with the laws of both countries, guarantee the safety and protection of PMI in terms of banking services while they are in Malaysia and increase the supply of PMI, especially in the construction sector, which is expected to contribute to Malaysia's economic growth, while further strengthening the bilateral relationship between both countries.

He said the event is a new milestone for both nations to continue working together in providing various benefits to the society and the region.

Also present during the event were Doktorandus Teten Masduki, Minister of Cooperatives and Small and Medium Enterprises of the Republic of Indonesia, Dato' Syed Mohamad Hasrin Tengku Hussin, Malaysian Ambassador to Indonesia, Hary Tanoesoedibjo, Executive Chairman of the MNC Group and Yudi Hamka, President Director of PT MNC Kapital Indonesia as well as Datuk Mohd Irwan Mohd Mubarak, Acting Chairman of Bank Rakyat, and Dato' Dr. Mohammad Hanis Osman, Chief Executive Officer of Bank Rakyat.