President: China Can Become Indonesia’s Top FDI Contributor

The website of The President of The Republic of Indonesia has published a release saying that President Joko Widodo attended the Indonesia-People’s Republic of China (PRC) Business Forum, which was held at the China World Hotel, Beijing, PRC, on Monday (16/10/23.)

When delivering his remarks, the President said he appreciated the investment and contribution of PRC entrepreneurs in development in Indonesia.

“I would like to express my thanks for the investment, for its contribution to Indonesia’s development. In 2013, China was ranked 12th as a contributor to foreign direct investment (FDI) in Indonesia – number 12 in 2013, but in 2022 it will be in second place,” said the President.

According to the President, the way entrepreneurs invest in Indonesia is fast and precise and makes an analogy to Bruce Lee with his Wing Chun movements. President Jokowi believes that PRC investment in Indonesia will continue to increase and become the top FDI contributor in the next one or two years.

“I am sure that if we continue to be consistent like this, I am sure that in the next year or two, that China can be ranked first and become a contributor to FDI in Indonesia and that is what I am waiting for,” he added.

President Jokowi’s confidence is because currently Indonesia is focusing on downstreaming the industry for various commodities such as nickel, copper, tin and other minerals. Indonesia is also focusing on building an integrated electric vehicle ecosystem to become an important part of the world supply chain.

“This requires the transfer of high technology and investment, especially when combined with the use of green energy sources which are very abundant in Indonesia to produce green products, to create a green economic ecosystem,” he continued.

Furthermore, President Jokowi explained that the potential for new renewable energy in Indonesia is very large, reaching 3,600-gigawatts. President Jokowi detailed some of them, namely 3,200-gigawatts of solar power and 4,400-rivers for hydro energy.

Apart from that, Indonesia is also building an Indonesian capital city with the concept of a green city in a jungle, 60-percent of which is forest, the first carbon neutral city in Indonesia. President Jokowi said that it is estimated that the construction of basic infrastructure and central government will be completed next year and as of early November there are already 21-investors from within and outside the country who have and will soon carry out groundbreaking with a total value of USD 2-billion.

At the end of his speech, President Jokowi again assured investors that investing in Indonesia is the right choice because it is easy and safe.

President Jokowi also invited investors to invest in Indonesia because a number of economic indicators showed positive achievements, including consistent economic growth above 5-percent, a trade balance that was in surplus for 41-consecutive months, the Purchasing Manager Index (PMI) was at the expansion level for 25-consecutive months, and a demographic bonus.

“We have also prepared incentives, and of course social and political stability is always maintained. So, don’t let anyone worry about the upcoming 2024 election because Indonesia also has experience in holding direct general elections five times. So, you don’t need to worry, you just need to hurry. “This is an investment opportunity that will not only benefit Indonesia but also China, because for Indonesia, cooperation must be mutually beneficial, it must be mutually beneficial,” he concluded.

Also accompanying the President were Minister of Foreign Affairs Retno Marsudi, Minister of Trade Zulkifli Hasan, Minister of State-Owned Enterprises as Ad Interim Coordinating Minister for Maritime Affairs and Investment Erick Thohir, Minister of Villages, Development of Disadvantaged Regions and Transmigration Abdul Halim Iskandar, Minister of Investment/Head of BKPM Bahlil Lahadalia, Cabinet Secretary Pramono Anung, and Indonesian Ambassador to China Djauhari Oratmangun.

 

Source: The President of The Republic of Indonesia website, BPMI Setpres

 Image: BPMI Setpres/ Muchlis Jr.

 

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