Chinese investment to keep flowing into Lake Toba area: Pandjaitan

Chinese investment to keep flowing into Lake Toba area: Pandjaitan

Luhut Binsar Pandjaitan (center) and Chinese Ambassador to Indonesia Xiao Qian (right) in Toba Caldera, North Sumatra, Dec 18, 2020.

Medan (ANTARA) - Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan affirmed that investors, especially from China and several other foreign countries, will keep funneling investment into the Lake Toba area, North Sumatra.

"Chinese investors, for instance, have invested in several projects and will invest more in the Lake Toba area," Pandjaitan stated in Toba Caldera, Toba District, North Sumatra, Friday, following an Indonesia-China Tourism and Investment Forum for five Key Super Priority Tourism Destinations. Chinese Ambassador to Indonesia, Xiao Qian, was also present at the meeting.

The event was concurrently held to observe seven decades of diplomatic relations between Indonesia and China and to promote Indonesia's tourism economy.

Falling short of revealing the exact investment figure, the minister remarked that the upcoming Chinese investment would be huge, as it would be utilized for the construction of infrastructure and hotels in the Lake Toba area.

Earlier, he revealed that China had planned to invest up to US$10 billion in Lake Toba.

Pandjaitan noted that the government, through the Coordinating Ministry for Maritime Affairs and Investment, is developing tourist destinations that prioritize the five main areas: Lake Toba in North Sumatra, Labuan Bajo in East Nusa Tenggara, Borobudur in Central Java, Mandalika in West Nusa Tenggara, and Likupang in North Sulawesi.

"It is expected that in addition to increasing investment, the number of foreign tourists from China will increase, especially after the COVID-19 pandemic," he stated.

Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia emphasized that the COVID-19 pandemic has had a systemic, massive, and structured economic impact globally.

Lahadalia pointed out that lifestyle changes had prompted the government and the business world to evaluate new policies and adjust accordingly, which undeniably had to be done swiftly.

The BKPM has adopted significant approaches not only to capture new investment opportunities from business relocation but also to solve stalled investment problems.

The data indicates that 74.8 percent of the 2020 investment target of Rp817.2 trillion had been met, while the rest will be realized by the end of the year. Related news: Ministry turns to digital realm to promote super-priority destinations
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