Indonesia receives Chinese investment commitment worth US$16.7 billion

... at least five Chinese investors plan to invest in Indonesia...
Jakarta (ANTARA News) - Today in Jakarta, The Investment Coordinating Board (BKPM) has received an investment commitment worth US$16.7 billion during a business forum with Chinese investors in Beijing, China, Thursday (May 14).

In his statement, at least five Chinese investors plan to invest in Indonesia, BKPM Chief, Franky Sibarani, noted in a statement here, Monday.

Of the US$16.7 billion commitment, investors have sought principle permits for projects valued at US$700 million and have earmarked US$16 billion for exploring projects in the sectors of energy, mining, and infrastructure, as well as the processing and automotive industries.

"The business forum was aimed at providing firsthand information to Chinese businessmen about the potential areas of investment and procedures in Indonesia," he stated.

Moreover, it was also expected to increase the value of realized Chinese investment in Indonesia, he emphasized.

The trend of investment plans in Indonesia has increased over the past five years to reach US$23.4 billion.

However, the realization is very small and is only seven percent of the plan.

The BKPM has planned to open a representative office in China to increase the realization of Chinese investment plans in Indonesia, he added.

The business forum was attended by 120 businessmen, mostly Chinese businessmen and some other foreigners.

(edited by Ine)