China Set to Invest US$100mn in Indonesia`s Textile Industry

TEMPO.CO, Jakarta - Chinese investor Jiangsu Dongqun Investment Holding Group Co., Ltd has expressed its intent to invest US$100 million in the development of textile industry and textile products (TPT).

“We certainly welcome Jiangsu Dongqun Investment Holding Group Co., Ltd’s intention to invest in Indonesia,” said Industry Minister Airlangga Hartarto in a press release in Jakarta, Tuesday, September 6, 2016, as quoted by Antara news agency.

Airlangga has also offered some investment options for the company, such as Kendal Industrial Park, Central Java, boasting its vast area and skilled workforce.

The intent was conveyed during President Joko Widodo’s visit to the People’s Republic of China for the G20 Summit in Hangzhou.

Airlangga said he has met with the management of Jiangsu Dongqun Investment Holding Group Co., Ltd. in Shanghai.

“We have asked them to cooperate with local partners,” Airlangga said. Meanwhile, he went on, Jiangsu Dongqun Investment Holding Group Co., Ltd had asked about investment incentives and energy availability for the TPT industry.

Airlangga explained that the Indonesian government has launched economic deregulation policies to scrap those hampering Indonesia’s industry and business development. The government has issued 13 economic policy packages thus far.

“The government is also mulling over lowering gas price to make it more competitive for industries, including the TPT sector,” he noted.

ANTARA