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Indonesia, China ink $10b in deals for high-tech, renewable energy
The agreements signed at Beijing’s Great Hall of the People cover investments in high-tech manufacturing, renewable energy, health and the downstream processing of 26 key commodities, along with initiatives in food security and finance.
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President Prabowo Subianto addresses business leaders during the Indonesia-China Business Forum 2024 in Beijing on Nov. 10, 2024. (Courtesy of/President Secretariat Office)
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resident Prabowo Subianto concluded his state visit to Beijing on Sunday by overseeing the signing of memorandums of understanding (MoUs) between Indonesian and Chinese companies worth a collective US$10.07 billion alongside his Chinese counterpart Xi Jinping.
The agreements, signed at Beijing’s Great Hall of the People, cover investments in high-tech manufacturing, renewable energy, health and the downstream processing of 26 key commodities along with initiatives in food security and finance.
“We want to keep working together and synergize with China, which has regained its prominent position in the world. We wish to be part of this resurgence and see China as not only an economic power but also as a center of civilization,” said Prabowo, as quoted in an official press release.
About 20 companies from both countries inked deals of cooperation at an event organized by the China Committee of the Indonesian Chamber of Commerce and Industry (Kadin).
Several other agreements were signed to strengthen specific industry partnerships. Key MoUs include a phytosanitary protocol for Indonesian coconut exports to China, a framework for sustainable fisheries, an understanding on the blue economy and cooperation in green mineral resources and water resource management, according to the release.
Referring to business activities related to the exploitation, preservation and regeneration of marine resources, the term blue economy encompasses a wide range of industries, including fisheries and aquaculture but also tourism and renewable energy generation as well as shipping.
The joint press release adds that the two sides planned to make use of specialized bilateral structures “to deepen cooperation on marine scientific research and environmental protection, navigation safety, deep-sea exploration, disaster prevention and mitigation, and maritime capacity building.”
