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RI companies ink deals worth $13.7b with Chinese counterparts
The SOEs minister says the investment agreements signed thus far are part of the US$29 million in potential deals expected from the President's working visit to Beijing, which includes the Belt and Road Forum from Oct. 16 to 18.
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President Joko “Jokowi” Widodo (left) and Chinese President Xi Jinping are all smiles on June 28, 2019, at the so-called family photo session at Osaka Castle during the Group of 20 Summit in Osaka, Japan. (AFP/Tomohiro Ohsumi)
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hirty-one private companies and state-owned enterprises (SOEs) from Indonesia signed agreements totaling US$13.7 billion with Chinese firms on Monday at the Indonesia-China Business Forum in Beijing, SOEs Minister Erick Thohir said.
“We want to be an industrial country that is part of the world’s supply chains,” Erick said in Beijing, in a YouTube video posted on Monday.
That sum was just a portion of potential deals totaling around $29 billion, he elaborated, adding that nine of the 31 companies were SOEs including electricity company PLN and the Indonesia Battery Corporation. He did not divulge the names of the seven other SOEs.
According to the minister, the Indonesia Battery Corporation has signed a partnership agreement with China’s Contemporary Amperex Technology Co. Limited (CATL) to build electric battery manufacturing facilities.
PLN would be teaming up with one or more unspecified Chinese electricity SOEs to make Indonesia’s electricity “greener”, Erick said. The signatories were also exploring the possibility of signing a separate agreement on building a hydropower plant.
“We need to push industrial development in Indonesia,” he said.
The SOEs minister is in Beijing as part of the delegation accompanying President Joko “Jokowi” Widodo at the Belt and Road Forum, which runs from Oct. 16 to 18.
