French minister lauds Indonesia`s economic resilience

French minister lauds Indonesia`s economic resilience

Industry Minister Airlangga Hartarto (left) along with French Secretary of State for European and Foreign Affairs Jean-Baptiste Lemoyne (second left) saw tire products during the inauguration of the synthetic rubber factory PT Synthetic Rubber Indonesia (SRI) in the Anyer Industrial Zone, Cilegon, Banten on Wednesday ( 11/29/2018). (ANTARA PHOTO/Asep Fathulrahman)

Jakarta (ANTARA News) - Secretary of State to the French Minister for Europe and Foreign Affairs Jean-Baptiste Lemoyne lauded Indonesia`s economy resilience which is supported by appropriate policies, and attractive climate for investment.

"I am impressed by the resilience of the Indonesian economy which has proven capable of coping with crisis. Indonesia has also carried out economic reforms to increase investment," Lemoyne said at a press conference here Thursday night (Nov 29).

The improvement of Indonesia`s investment climate was appreciated by France, which has just invested US$435 million in PT Synthetic Rubber Indonesia (SRI) to build a synthetic rubber factory in Cilegon, Banten province.

PT SRI is a joint venture company between Michelin and PT Chandra Asri Petrochemical Tbk.

With a production capacity of 120 thousand tons per year, the factory will complement all materials needed for the manufacture of tires in Indonesia. The first production of this factory will be exported with a value of around US$250 million.

"Investing in companies operating in Indonesia is a form of our efforts to help increase Indonesia`s export to neighboring countries, especially the ASEAN market," Lemoyne said.

Indonesia is expected to maintain its good investment climate by maintaining the quality of human resources and the stability of democracy.

France through Business France will cooperate with the Indonesian Chamber of Commerce and Industry (KADIN) to attract more investment into the country.

"We hope to double the number of French companies in Indonesia to export products throughout the world," Lemoyne said.

Reporting by Yashinta Difa Pramudyani
Editing by Libertina, Suharto