According to reporting from Antara News, Rosan Roeslani, Indonesia’s minister of Investment and Downstreaming and head of the Investment Coordination Agency (BKPM), said in Beijing on Friday (20/12/24,) that China has committed to new investments in Indonesia worth USD 7.4 billion, in four production fields: polysilicon, fiberglass, polyethylene terephthalate (PET), and electric vehicles (EVs).
Polysilicon is the core material used in semiconductors, while PET is used to make textile fibers and plastic storage, among other things.
“It (the investment) is not only for EVs … so as to improve diversification,” Roeslani said.
He visited six cities during his five-day visit to China, which he described as “very productive” says Antara News, adding that he asked Chinese companies that have invested in Indonesia to continue and even expand their investments.
He also shared information on the government’s policies to improve the investment climate and provide ease of doing business in Indonesia, and in addition to promoting investment, he said the government is looking to cooperate in training as well as research and development in Indonesia, says Antara News.
Under the previous government, the Ministry of Investment was given the target of attracting investment worth IDR 1,650 trillion (approximately USD 101.6 billion) for 2024 and absorbing 2.12 million people in the workforce.
In the first half of 2024, investment realization reached IDR 829.9 trillion (approximately USD 51.13 billion), or 50.3 percent of the target, and worker absorption was recorded at more than 1.2 million.
For 2025, the investment target has been increased to IDR 1,906 trillion (around USD 117.43 billion), with workforce absorption of 2.45 million.
According to the ministry, the value of Chinese investments in Indonesia reached USD 32.2 billion in the period from 2019 to the first half of 2024. Last year, the value stood at USD 7.4 billion.
Source: Antara News
Stock image by Credit Commerce from Pixabay
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