TEMPO.CO, Jakarta - The Investment Coordinating Board (BKPM) has identified a South Korean company’s intent to invest in pharmaceutical industry worth US$127 million.
The intent was conveyed in a meeting with South Korean steel manufacturer Pohang Iron and Steel Company (POSCO) and its customers in Songdo, Incheon, South Korea, Bisnis Indonesia reported
In the event titled “POSCO Global Early Vendor Involvement (EVI) Forum 2016”, BKPM chief Thomas Lembong was present as a special guest.
The company engaging in manufacture industry has expressed its plans to expand its business of derivative products.
However, it has some worries that cheaper products from China will affect its products’ competitiveness in Indonesia.
“On worries that cheap Chinese products might flood the market, we will certainly examine the import controls of such products, as similar products are already available in Indonesia,” Thomas said.
He explained that President Joko Widodo and Vice President Jusuf Kalla have put manufacture industry as one of the top priority which could give significant added value to the national economy.
Steel and chemical, on the other hand, are raw materials for other large industries, meaning that they can provide huge contribution to the economy and serve as the backbone of manufacture sector.
“The government will facilitate the investment plan, more so because the products being produced are import substitution,” he added.
BISNIS.COM
