News

Lion Group Malaysia looks to invest in four of Aceh's sectors

Foreign Affairs Aceh Transition Committee (KPA Lua Nanggroe) Head Teuku Emi Syamsyumi, also known as Abu Salam, stated that Lion Group Management Services Sdn Bhd (Lion Group Malaysia) wants to invest in Aceh. The company is targeting four sectors, namely gold mining, oil and gas, marine and fisheries (including salt), and plantations (including wheat and corn).

Abu Salam revealed the information after a follow-up meeting with the Aceh Province Regional Development Planning Agency (Bappeda) and a delegation of investors to discuss investment plans in Banda Aceh City, Aceh on Jan. 7, 2025. On the same occasion, Lion Group Malaysia Chairman Tan Sri William Cheng said that the investment plan was to be carried out in the long term, by 10 years at the soonest or when the project has passed one cycle of its payback period.

He added that the availability of sufficient resources and infrastructure support is needed to achieve that projection, including a minimum area of ​​5,000 hectares of land and clear land status, road and transportation access, the availability of cheap energy, as well as ease in managing permits. Lion Group Malaysia promised to comply with the provisions for paying taxes, royalties, and also the use of local labor. He hopes that this investment can benefit both investors and Aceh.

The meeting also presented the heads of the relevant Aceh Provincial Government Work Units (SKPA), namely the provincial government offices of Energy and Mineral Resources (ESDM), Agriculture and Plantation, Investment and One-Stop Integrated Services (DPMPTSP), Marine and Fisheries, as well as the Aceh Provincial Government Regional Secretariat's Economic Bureau.

Aceh Bappeda Head Ahmad Dadek directly led the hybrid offline and online meeting. In his remarks, Dadek welcomed the investors and asked the heads of Aceh SKPA to provide clearer information about Aceh's investment potential and to provide convenience for investors to raise their interest in investing towards Aceh.

Related Articles