Jakarta, The Gulf Observer: China is an important source of investment and a key trading partner for Indonesia, according to Trade Minister Zulkifli Hasan.
After accompanying President Joko Widodo (Jokowi) to the Indonesia-China Business Forum at China World Hotel in Beijing, China, on Monday, Hasan said that China is currently the second-largest investor in Indonesia.
“China is very important for Indonesia because it has become the second-largest investor and number one trading partner. Hopefully, the cooperation will continue to increase for the progress of both countries,” the minister said in a written statement released in Jakarta on Tuesday.
President Widodo appreciates the investment and contribution of Chinese entrepreneurs in the development of Indonesia, he added.
In 2013, China ranked 12th as a contributor of foreign investment in Indonesia, but by 2022, it rose to the 2nd place.
President Widodo said he believes that Chinese investment in Indonesia will continue to increase and it will become the top foreign investment contributor within one or two years.
Some of the investments are also export-oriented, so they are contributing to increasing Indonesian exports.
Hasan informed that President Widodo has also invited investors to invest in Indonesia, considering that the nation has a number of positive economic indicators, such as consistent economic growth of above 5 percent, a trade balance surplus for 41 consecutive months, an expansionary Purchasing Manager’s Index (PMI) for 25 consecutive months, as well as a demographic bonus.
At the forum, the President also was accompanied by Foreign Affairs Minister Retno Marsudi; Minister of State-Owned Enterprises (SOEs) and ad interim coordinating minister for maritime affairs and investment, Erick Thohir; Villages, Development of Disadvantaged Regions, and Transmigration (PDTT) Minister Abdul Halim Iskandar; Minister of Investment, Bahlil Lahadalia; Cabinet Secretary Pramono Anung; and Indonesian Ambassador to China, Djauhari Oratmangun.