Chinese Companies to Increase Energy Investments in Indonesia: Minister

TheIndonesia.id - Minister of Foreign Affairs Retno Marsudi has revealed that Chinese companies are looking to increase their investments in energy sector in Indonesia after meeting between the two countries’ representatives took place in Beijing.

As reported by Antara, Marsudi said energy investment is among the primary focuses discussed in the bilateral meeting, and she said many Chinese companies showed interest to start investing or increasing their investments in Indonesia.

“The discussion between the Coordinating Minister for Maritime Affairs and Investment [Luhut Binsar Pandjaitan] and Chinese companies was quite detailed, and they showed strong commitment to increase mutually beneficial investments in Indonesia,” Marsudi said on Tuesday, July 26.

“On July 25, the Coordinating Minister and I met a number of Chinese investors, including Tongkun Holding Group Co. dan Xinfengming Group Co. [to discuss] the development of petrochemical chain in North Kalimantan,” she added.

The Minister also met with representatives from Chery Automobile Co. Ltd. to talk about investments in electric vehicle (EV) and batteries as well as with Synfuels China Technology Co. Ltd. to discuss energy transition, coal to liquid, and gas to liquid projects.

Lastly, she also held a meeting with Fuhai Group and discussed future development of iron and steel plant, coal chemical plant, power plant, machinery manufacturing, oil refinery, and ports in industrial estate in Jambi.

According to the Ministry of Foreign Affairs, President Joko Widodo and President Xi Jinping acknowledged the significant milestones in bilateral trade cooperation in recent years and are committed to further increase the bilateral trade volume.

In addition to energy investment, China also expressed the intention to strengthen bilateral relations with Indonesia in various sectors, such as maritime and education.

“China and Indonesia will accelerate the resumption of people-to-people exchanges, including the return of Indonesian students to China, open more direct flights, and beef up cooperation in such fields as education, tourism, youth, and local exchanges,” statement from the Ministry read.

“Both sides will strengthen communication between the agencies in charge of maritime affairs, enhance institutionalized arrangements, implement the projects supported by China-Indonesia Maritime Cooperation Fund (MCF), carry forward fishery cooperation such as the National Fish Barn project, and utilize great potential of marine economy.”

The visit also resulted in the renewal of MoU on Jointly Promoting Cooperation within the Framework on the Silk Road Economic Belt and 21st Century Maritime Silk Road Initiative and Global Maritime Fulcrum as well as the signing of a series of cooperation documents in research and development of vaccine and genomics, green development, custom information exchange and enforcement, cyber security capacity building, marine, and import of Indonesian pineapples.