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Selasa, 12 November 2024

Investment Commitment Worth USD 10.07 Billion Achieved During Prabowo's State Visit to China, Rosan Optimistic About Continued Growth of Chinese Investment

Beijing, November 12, 2024 – Minister of Investment and Downstream Industry/Head of the Indonesia Investment Coordinating Board (BKPM), Rosan Perkasa Roeslani, accompanied President of the Republic of Indonesia Prabowo Subianto on a state visit to Beijing, the People's Republic of China (PRC), from November 8 to 10, 2024. This inaugural state visit was aimed at strengthening Indonesia-China cooperation in various sectors, including investment.

President Prabowo Subianto held a meeting with President Xi Jinping, where the two leaders agreed to deepen the well-established relationship between the two countries. “We have coexisted for centuries, and our cultures and societies have been interconnected for years,” stated President Prabowo Subianto.


On the same day, President Prabowo Subianto also met with Premier Li Qiang and Chairman of the National People's Congress of China Zhao Leji at the Great Hall of the People in separate meetings. These discussions underscored Indonesia's strong commitment to enhancing friendship and strategic cooperation with China in various fields, including investment, education, and poverty alleviation.


Indonesia-China Business Forum

One of the key agendas during the state visit to Beijing was the Indonesia-China Business Forum (ICBF), organized by the Indonesian Chamber of Commerce and Industry (KADIN) China Committee and the Embassy of the Republic of Indonesia in the PRC at The Peninsula Beijing Hotel. The ICBF was attended by more than 200 entrepreneurs and business leaders from China and Indonesia.


The business forum resulted in the signing of memorandums of understanding for investment cooperation between several Indonesian and Chinese companies, with a total commitment of USD 10.07 billion. The agreements spanned various sectors, including healthcare, biotechnology, manufacturing, renewable energy, food security, and finance.


Rosan emphasized that this business forum provided an excellent opportunity for Indonesia and China to further strengthen their investment cooperation. Entrepreneurs present at the forum explored potential investment opportunities between the two countries.


“China consistently ranks among the top investors in Indonesia. As President Prabowo highlighted, the Indonesian government will continue to foster a conducive investment climate and provide adequate facilities for investors. This state visit serves as an important moment for both countries to explore collaboration potential, especially in sustainable investment and downstream industries,” said Rosan.


China's Investment Realization Data

Indonesia has maintained diplomatic relations with China since 1950. Economic ties between Indonesia and China have grown significantly, especially since the implementation of the ASEAN-China Free Trade Area in early 2010 and the Comprehensive Strategic Partnership between Indonesia and China in 2013. Chinese investment in Indonesia has continued to rise over recent years, moving from the 9th largest foreign direct investment (FDI) source in 2015 to the 2nd largest in 2019. From 2019 to September 2024, Chinese investments in Indonesia reached USD 34.19 billion, accounting for 18% of total foreign investment in the country.


During this period, Chinese investment in Indonesia was dominated by the base metal industry at USD 14.39 billion (42%); transportation, warehousing, and telecommunications at USD 7.98 billion (23%); the chemical and pharmaceutical industry at USD 3.18 billion (9%); electricity, gas, and water at USD 2.70 billion (8%); and industrial estates, housing, and offices at USD 2.21 billion (6%).


By location, the majority of Chinese investments were outside Java (67%) compared to Java (33%). The top investment destinations were Central Sulawesi at USD 12.54 billion (37%), West Java at USD 7.19 billion (21%), North Maluku at USD 5.18 billion (15%), Jakarta at USD 1.66 billion (5%), and Banten at USD 1.34 billion (4%). 


For further information, please contact:

Ahmad Faisal Suralaga

Head of the Bureau of Communication and Information Services

Ministry of Investment and Downstream Industry/BKPM

E-mail: humas@bkpm.go.id

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