chinese investors putting more money in indonesia

Category : Adventure | Posted On Jul 19, 2017

China has further cemented its role as one of Indonesia's strategic partners going forward with its commitment to step up investment, government data shows. Speaking at a forum attended by Indonesian and Chinese businesses, Chinese Ambassador to Indonesia Xie Feng said China saw great potential for bilateral cooperation.

China's realisation of foreign direct investment in Indonesia grew by 291 per cent to US$1.5 billion (S$2.2 billion) from January to September compared with the same period last year, according to Investment Coordinating Board (BKPM) data. "China will continue to encourage more enterprises to invest in Indonesia and help speed up Indonesia's economic growth," Mr Xie said on Wednesday.

China is now a top five foreign investor in the country.President Joko Widodo has held five meetings with Chinese President Xi Jinping in the past two years, a sign of deepening ties between the two countries seeking to expand cooperation from electricity generation and mining to new sectors such as e-commerce and tourism.

Joint investment cooperation over the past five years totalled more than 3,000 projects. About a quarter of Indonesia's electricity is generated by power plants built by China.Tourism is another key area, with Mr Joko targeting half of his 20 million foreign tourist target by 2019 to come from China. As of September this year, 1 million Chinese tourists had visited Indonesia.