Beijing, China (ANTARA) - Indonesia has received new investment commitments worth US$7.4 billion from China, according to Investment and Downstreaming Minister and head of the Investment Coordination Agency (BKPM), Rosan Roeslani.

He told ANTARA in Beijing, China, on Friday that the commitments were obtained during his visit to the country.

According to the minister, the commitments cover investments in four production fields: polysilicon, fiberglass, polyethylene terephthalate (PET), and electric vehicles (EVs).

Polysilicon is the core material used in semiconductors, while PET is used to make textile fibers and plastic storage, among other things.

"It (the investment) is not only for EVs... so as to improve the diversification," Roeslani said.

He visited six cities during his five-day visit to China, which he described as "very productive."

"We also received good responses from the companies visited," he said.

He asked Chinese companies that have invested in Indonesia to continue and even expand their investments.

He also shared information on the government's policies to improve the investment climate and provide ease of doing business in Indonesia.

In addition to promoting investment, he conveyed the government's wish to cooperate in training as well as research and development in Indonesia.

"This was responded to very positively by them and they are also planning to open research and development in Indonesia," he informed.

Under the previous government, the Ministry of Investment was given the target of attracting investment worth Rp1,650 trillion (around US$101.6 billion) for 2024 and absorbing 2.12 million of the workforce.

In the first half of 2024, investment realization reached Rp829.9 trillion (around US$51.13 billion), or 50.3 percent of the target, and worker absorption was recorded at more than 1.2 million.

For 2025, the investment target has been increased to Rp1,906 trillion (around US$117.43 billion), with workforce absorption of 2.45 million.

According to the ministry, the value of Chinese investments in Indonesia reached US$32.2 billion in the period from 2019 to the first half of 2024. Last year, the value stood at US$7.4 billion.

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Translator: Desca Lidya, Raka Adji
Editor: Azis Kurmala
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