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Chinese investment in new major Indonesian projects welcomed

The announcement that Chinese enterprises are to participate in several new building projects in Indonesia has been welcomed by the government and industry alike.

After it was announced that a number of commercial, industrial and public developments will benefit from a boost in funding and Chinese input, Indonesian President Joko Widodo said it marks a major step in the relationship between the two countries.

Further expansion

In addition, Mr Widodo said the continued investment will help to further expand Indonesia's flourishing construction sector and show the world that it is a hotbed of activity.

The deal was made at a meeting between Mr Joko and the Chinese Premier Li Keqiang ahead of the annual converging of the Asia-Pacific Economic Cooperation (APEC).

In it, the two leaders underlined mutual trust and pledged closer economic and trade ties, with China saying it is keen to expand bilateral trade and investment, as well as strengthening energy and agricultural cooperation with Indonesia.

According to Mr Li, China is encouraging domestic companies to participate in the construction of Indonesian projects such as power plants and other major developments, to not only increase the cultural and personnel exchanges with the country, but also to create long-lasting friendship between the two.

Mr Joko responded by saying the new Indonesian government is "committed to strengthening mutual trust and friendship" with China and also enhancing mutually-beneficial relations, particularly in terms of the building sector, which is a key economic pillar for Indonesia.

Widespread support

The news has also been welcomed by the industry, with Indonesian firms voicing their support for the new agreement and noting that the exchange of information and skills with China can only be of benefit to both nations.

On a wider scale, both countries noted that the agreement will play a positive role in promoting the strategic partnerships in the Association of Southeast Asian Nations (ASEAN), which is encouraging closer economic and industrial ties between Asian countries.


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INDONESIA

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Venue: INDONESIA CONVENTION EXHIBITION CENTER (ICE)

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