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Jakarta Post

China to build $5 billion industrial park in West Java

  • The Jakarta Post

    The Jakarta Post

Singapore   /   Thu, October 29, 2015   /  06:11 pm
China to build $5 billion industrial park in West Java Suryo Bambang Sulisto.(CMI)

Suryo Bambang Sulisto. (CMI)

China Minsheng Investment Corp. (CMI), an international private financial investment group with US$8 billion in registered capital, will build a $5 billion industrial park in West Java as part of the '€œOne Belt, One Road'€ (OBOR) strategy of the Chinese government to boost connectivty and commerce between Asia and Europe.

The giant industrial project was one of the main subjects of discussions at the second meeting of CMI'€™s Global Advisory Council (Gac) in Singapore on Thursday.

'€œWe welcome this project as it fits well with the Indonesian government'€™s aim to develop more manufacturing industries and generate more jobs,'€ asserted Suryo Bambang Sulisto, a member of the CMI Gac.

Suryo told the conference the Indonesian government had launched five reform packages in the last 40 days alone to make it easier for investors to do business in the country.

'€œThe economies of Indonesia, the largest country in Southeast Asia that is richly endowed with natural resources, and of China, the world'€™s second largest economic powerhouse, complement each other well,'€ Suryo added.

CMI Gac members include such well-known figures as former French prime minister Dominique de Villepin, 2003 Nobel Laureate in economics Robert Engle, Charoen Pokphand Group chairman Dhanin Chearavanont, consultant Ronald Berger and former chairman of Morgan Stanley Asia Stephen Roach.

CMI chairman Dong Wenbiao told the meeting that preparations for the Indonesian industrial park were well advanced, including a $1.6 million talent development program to train Indonesian workers.

CMI, Wenbiao added, had built a platform to facilitate Chinese companies going global together, en masse and in a group to cut costs and risks and create high efficiency, returns and competitiveness. Developing overseas in groups, he said, would allow companies to blend into the local economy and society in a short period of time.

CMI specializes in equity investment and management; commercial, financial and investment consultation; industrial investment; and asset management. CMI has an established presence in Hong Kong, Singapore and London. (vin)(+)

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