A New Wave of Chinese Investment Sweeps into Indonesia

By Editorial Team 21/03/2024
Indonesia China
Summary

The Indonesian government has unveiled new investment commitments from Chinese companies. Luhut Binsar Panjaitan, Coordinating Maritime Affairs and Investment Minister, stated that three new investment commitments were obtained by the team led by Septian Hario Seto, Deputy for Investment and Mining Coordination. "Despite being done during the fasting month, the team I assigned managed to secure three investments in just three days," he said on Mar. 20.

According to Luhut, these Chinese investment commitments are in the garment industry, photovoltaic glass industry, and BYD electric vehicle manufacturer. He cited an example where a Chinese photovoltaic glass manufacturer will invest up to US$4 billion in North Kalimantan. Luhut believes this investment will benefit Indonesia by creating new job opportunities in the garment and photovoltaic glass industries. "In the current situation in China, they still see Indonesia as a choice for investment, which I think is very interesting," he added.

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