Jokowi Bags Rp197tn in Investment from China
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17 October 2023 18:47 WIB
TEMPO.CO, Jakarta - Indonesian President Joko Widodo or Jokowi bagged US$12.6 billion or Rp197 trillion from Chinese investors during his visit to China. The investment is for the development of the electric vehicle or EV battery industry, green energy, and health technology in the country.
At least eleven documents were signed at the Indonesia-China Business Forum held at the China World Hotel, Beijing, on Monday, October 16, 2023. The cooperation worth US$12.6 billion was established between private companies, state-owned enterprises (SOEs), as well as private companies and SOEs.
Erick Thohir, Ad-interim Coordinating Minister for Investment and Maritime, explained that the potential value of this collaboration could reach US$29 billion or equal to Rp455 trillion. “We aspire to be an industrialized country that is part of the global supply chain,” he said in a video statement released by the Palace’s Press Bureau.
Erick mentioned that a total of 31 stakeholders were involved in this investment, including nine SOEs, such as the Indonesia Battery Corporation, which would synergize with China’s Contemporary Amperex Technology Co., Limited (CATL) to develop the EV battery industry.
The SOE Minister also said that state-owned electricity firm PT PLN would cooperate with Chinese power plants. “Green energy is a must in the future. Earlier, we witnessed hydropower cooperation for PLN,” Erick added, referring to the deal at the Indonesia-China Business Forum.
President Jokowi is embarking on a two-day visit to China on October 17 - 18, 2023. He was scheduled to meet with stakeholders in Beijing and China President Xi Jinping, as well as attend the Belt and Road Forum.
DANIEL A. FAJRI
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