Bulgaria-based company, Bella Bulgaria, has made a strategic move by entering into a halal meat joint venture in Indonesia. With a significant investment of $72 million, this partnership aims to strengthen the company’s presence in the Asian market. Bella Bulgaria has signed a memorandum of ‘trade and investment cooperation’ with PT Garuda Mitra Utama, an Indonesian company. This agreement was finalized during the Indonesia-Europe Business Forum, held in Jakarta under the purview of the Ministry of Foreign Affairs of Indonesia.
As part of the investment, $38 million will be allocated towards establishing a meat products factory in Indonesia, while $34 million will be used for the procurement and supply of spices and herbs. Bella Bulgaria’s knowledge and experience gained from operating a halal facility in Plovdiv, Bulgaria will be implemented on a larger scale in Indonesia. The company operates nine European factories, including Greece, Romania, and Hungary, and offers a diverse range of products such as meat cuts, pastry items, cheese, frozen vegetables, and cooking oils.
Dimitar Mitev, the Chief Operating Officer of Bella Bulgaria, stated, “By actively developing the activity of the rendang-padang factory in Plovdiv, we accumulated knowledge and experience, which we want to implement on a much larger scale in Indonesia.”
This move aligns with Bella Bulgaria’s participation in President Joko Widodo’s ‘Indonesia: Spice Up the World’ program, which aims to promote Indonesian products globally to boost the local economy and create employment opportunities. The CEO of Mitra Utama, Hendro Santoso, emphasized the significance of collaborating with a European company and the opportunity to produce products based on traditional recipes that are part of Indonesia’s cultural heritage.
While the location of the joint-venture factory is yet to be determined, Santoso mentioned potential options such as Jakarta or Bali. The collaboration will involve utilizing spices and seasonings from small and medium-sized enterprises in Sumatra to preserve the authentic flavors, while the meat will be sourced from Bulgaria. This joint effort ensures that the products are cooked under the supervision of both parties.
In conclusion, Bella Bulgaria’s entry into the halal meat joint venture in Indonesia demonstrates its commitment to expanding its operations and capitalizing on the potential of the Indonesian market. This strategic partnership will not only benefit Bella Bulgaria but also contribute to the economic growth and cultural preservation of Indonesia.
