Author : Virghie Dynaz Koesoema 

A month has passed, at the BIMP - Business Council event which officially completed the Cooperation Agreement process or called "Business Agreement". One of the completions was marked by the issuance of several letters of agreement signed by the relevant authorities in each country that had the authority to sign the Memorandum of Understanding and Agreement on November 23, 2022. 

It was witnessed during the signing process, that the agreements were directly approved by Airlangga Hartarto as the Indonesian Coordinating Minister for Economic Affairs. In fact, the publication of the official agreement is also not the final series of cooperation actions between countries but is a strategic corporation implemented by Indonesia, Malaysia, Brunei Darussalam, and also the Philippines, which can become a magnet for cooperation agreements to support the success of the New State Capital or IKN, which is organized by the Indonesian Chamber of Commerce.

The effectiveness of all the provisions of this business agreement complements the implementation of various other fundamental stages that are carried out and are expected to occur at BIMP-Eaga through a process of meetings, consolidation, and solicitations for Cooperation which must certainly produce something useful for each country, especially the host, the Republic of Indonesia. 

Furthermore, this agreement is the beginning of strategic steps in business issues, profit, sustainability, and of course positive performance growth.

Let's see, what kind of memorandum of understanding and agreement happened a month ago at the BIMP-EAGA Business council that was carried out by the four countries?

  1. MoU between West Kalimantan Chamber Of Commerce and Sarawak Bussiness Federation Represented By President Mr. Dato Sri Abang Haji Abdul Karim. Signatory : Mr. Edy Suryadi (Vice Chairman Of The Border West Kalimantan Chamber Of Commerce) And Mr.Noble Pang Representatives Of Sarawak Bussiness Federation.

  2. Mou Between East Kalimantan Chamber Of Commerce And Sarawak Bussiness Federation.

    Signatory : Mr. Sayid (Chamber Of Commerce And Industry (Kadin) East Kalimantan)

    And Mr.Rachel.

  3. Memorandum Of Understanding For Cooperation To Build And Prosper In

    Agribusiness Field Between BEBC-BIMP EAGA Indonesia
    Signatory : Devi Erna Rachmawati, SE,. MBA,. Ph.D And BEBC-BIMP EAGA Brunai Darussalam (Pangiran Haji Haris Bin Pangiran Haji Duraman)

If we look at the agreement, it is more focused on the development of the IKN. Why? According to Sayid Irwan as Country Director of BEBC (BIMG Eaga Business Council) he said "IKN is an energy and attraction for neighboring countries to invest and participate in supporting the nation's capital," he continued, the green environment will also be an attraction in the development of the capital city in the right moment for other countries to cooperate.

Not only that, it is certain that the BIMP-EAGA Business Council, which took place one month ago, can be seen as a huge potential for economic growth and development with the flexibility to offer investors in 4 countries to invest. And of course, people will wait for the continuation of this agreement for economic growth.