China ready to invest $1.38 billion in Indonesia: envoy

20-Apr-2021 Intellasia | AntaraNews | 5:02 AM Print This Post

China has confirmed plans to invest $1.38 billion in Indonesia, especially West Kalimantan, Indonesian Ambassador to China and Mongolia, Djauhari Oratmangun, informed on Friday.

“So far, China has invested much in West Kalimantan. This year, (Chinese) investors plan to invest in Indonesia, particularly in West Kalimantan and Batang district, Central Java. The value of investments in the furniture industry will reach $1.38 billion,” he disclosed at an international webinar on China-West Kalimantan’s economic potential.

A Chinese business delegation is scheduled to visit West Kalimantan and Central Java in April or May, 2021, he said.

“Surely, the investment will offer a chance for the regions to advance and build trade cooperation (with China),” he remarked.

West Kalimantan currently accounts for 10.13 percent of Indonesia’s exports to China, he pointed out.

“Interestingly, Indonesia’s exports (to China have) increased, with West Kalimantan contributing a significant 10.13 percent (of the total exports to China). With the increase, we have been able to reduce problems related to Indonesia-China trade,” he added.

Indonesia ranks fourth among Asean member states exporting to China, he said.

“During the pandemic, Indonesia-China relations remained good. Chinese investment in Indonesia reached $4.8 billion in 2020,” he noted.

Indonesia’s exports to China also rose 15 percent in 2020 compared to a year earlier, he said.

“Last year, Indonesia recorded a 15-percent increase (in its exports to China). (The export of) key commodities rose, with iron and steel exports swelling 136.52 percent, paper and paperboard jumping 133.25 percent, and tin and products skyrocketing 544.07 percent,” he added.

The total trade between the two countries topped $78.48 billion during the period, he said.

https://en.antaranews.com/news/172674/china-ready-to-invest-us138 billion-in-indonesia-envoy

 

Category: Indonesia

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