Food company Bella Bulgaria and Indonesian firm Garuda Mitra Utama (GMU) signed a cooperation agreement during the Indonesia-Europe Business Forum in Jakarta. The Bulgarian-Indonesian investment is worth USD 72 million in total. USD 34 million will be destined to raw material supply over a four-year period, and the remaining USD 38 million is designed for the formation of a joint venture for meat processing in Indonesia.
Bella Bulgaria operates Europe’s first and only facility dedicated to producing the Indonesian delicacy rendang-padang. Under the initiative Indonesia: Spice Up the World, the firm is a strategic partner of the Indonesian Embassy in Bulgaria. The collaboration between Bella Bulgaria and GMU is a continuation of the creation of a rendang-padang factory in Bulgaria and an illustration of the Bulgarian meat processing industry’s strong competitiveness on a worldwide scale.
The Bulgarian-Indonesian investment initiative is being carried out as part of the ‘Rendang Enters Europe’ program, which is part of Indonesia: Spice Up the World brand. The project is expected to contribute to Indonesia’s economic growth by creating new job opportunities and expanding the supply of Indonesian products to global markets.
(Source: Bella Bulgaria)