Indonesia-China business forum produces two MoUs on investment

Indonesia-China business forum produces two MoUs on investment

Indonesia - China (ANTARA PHOTO/Puspa Perwitasari)

Beijing (ANTARA News) - An Indonesia-China Business Forum here has produced two Memorandums of Understanding (MoUs) on investment signed by investors from the two countries.

Chairman of the Indonesia-China Business Council (ICBC) Ali Hussein signed one of the MoUs with counterparts from two Chinese companies CRCC Group Limited and Zhongde Waste Technology AG.

Under the MoU, the two Chinese companies would invest in garbage treatment industry in Indonesia.

The second MoU was signed by PT Terang Dunia Internusa of Indonesia and Tangshan Jin Hentong Bicycle Parts Co Ltd of China, which is based in the city of Tianjin. Under the MoU Tangshan Jin would invest in steel industry in Indonesia.

"The Forum is aimed to expand and bring to reality cooperation between the two countries in the trade, mining and investment especially in infrastructure, creative and digital economy, agriculture and food processing industry," Indonesian Ambassador to China Djauhari Oratmangun said.

The ambassador, who initiated the Forum with theme of "Doing Business with Wonderful Indonesia", said Indonesian-Chinese relations, which have moved toward strategic partnership should be reflected with economic and business figures to redress the bilateral trade balance, which have always been in favor of China.

He said the country`s Gross Domestic Product (GDP) in 2017 was US$1.15 trillion or 1.64 percent of the world`s economy and 36.14 percent of ASEAN`s GDP.

"Although the world`s economy is not favorable at present worsened by escalating trade war (between China and the United States), Indonesia is given good rating by international rating agencies on stable and healthy growth of economy, investment, tourism and trade," he said.

Relations between Indonesia and China is stronger with Maritime-Silk Belt and Road Initiative (BRI) that could be made in synergy with the Indonesian Global Maritime Fulcrum (GMF), he added.

"It is not only substantial for both governments but I believe the business sector also could take advantage of the cooperation especially with Indonesia opening four investment corridors. The government has improved business and investment climate," he said.

Deputy for Promotion at the Capital Investment Coordinating Board (BKPM) Andi Maulana said the government launch massive deregulation program to facilitate investment and simplified licensing procedure.

The forum was attended by 300 business leaders including 40 from Indonensia.

Reporting by M. Irfan Ilmie
Editing by Suharto

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