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Jokowi invites related parties to facilitate investors relocating from China

02 July 2020 06:51

JAKARTA. President Joko Widodo (Jokowi) said that so far there have been seven foreign companies that have relocated from China to Indonesia, and there are still 17 potential investments worth hundreds of trillions that need to be facilitated.

"Furthermore, 17 investment potentials worth US$ 37 billion (around Rp 529 trillion) must be guarded, pursued, and facilitated," Jokowi said during his visit to the Batang Integrated Industrial Zone, Central Java yesterday.

The Investment Coordinating Board (BKPM) estimates the investment potential of seven companies that move their business from China to Indonesia, reaching US$ 850 million or around Rp 11.9 trillion. From the relocation of the production facilities of the seven companies, BKPM estimates there are 30 thousand workforces that can be absorbed.

According to BKPM records, the seven companies that have relocated their investments to Indonesia, are not based in China. However, they built production facilities there because it was more strategic.

The seven companies are Alpan Lighting (PT CDS Asia) from the United States, Sagami Electric (PT Sagami Indonesia) from Japan, Denso (PT Denso Indonesia) from Japan, Panasonic (PT Panasonic Manufacturing Indonesia) from Japan, Meiloon (PT Meiloon Technology Indonesia) from Taiwan, Kenda Tire (PT Kenda Rubber Indonesia) from Taiwan, and LG Electronics (PT LG Electronics Indonesia) from South Korea. (KR/AR)

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