Minister: China Responded Positively to RI's Investment Proposals
1 January 1970 07:00 WIB
TEMPO.CO, Jakarta - The Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan said that China has responded positively to Indonesia’s investment proposals discussed at the Belt and Road Initiative (BRI) summit.
Some investment projects being offered include integrated port projects in Bitung, North Sulawesi and Kuala Tanjung in North Sumatra and electrical projects and industrial areas in North Kalimantan.
“President Joko Widodo said he has instructed [the ministers] to get the projects ready. When he bid farewell to President Xi Jinping yesterday, President Joko Widodo said that next month he will send a team from Indonesia to follow up the proposal,” he said Wednesday in a press release in Jakarta.
He said that the Indonesia will cooperate with China in making new products that will benefit the country and improve people’s welfare.
“We shall await the official statement from the President, the amount is considerable. The cooperation being agreed include the programs of biodiesel B5 fuel production, palm oil, to boost the price of palm oil, which in turn will benefit our palm oil farmers,” he said.
As many as 29 heads of state and government and international organization directors convened to discuss policy synergy, community relations and infrastructure at the BRI summit held in Beijing on May 14-15.
The minister did not reveal the amount of investment secured by Indonesia at the forum.
Luhut added that the government will facilitate the parties to the agreement to materialize the projects and provide incentives, such as tax holiday.
According to Luhut, China has 3 trillion US dollars to invest in other country. By investing just one-third of the amount or 1 trillion US dollars, China is expected to help develop new economies in various countries.