Chinese firm intent to invest US$100mn in Indonesian textile industry

Indonesian Industry Minister Airlangga Hartarto in a press release in Jakarta, Tuesday, September 6, 2016 announced that Chinese investor Jiangsu Dongqun Investment Holding Group Co., Ltd has expressed its intent to invest US$100 million in the development of textile industry and textile products (TPT).

They certainly welcome Jiangsu Dongqun Investment Holding Group Co., Ltd’s intention to invest in Indonesia and has also offered some investment options for the company, such as Kendal Industrial Park, Central Java, boasting its vast area and skilled workforce.

Airlangga has met with the management of Jiangsu Dongqun Investment Holding Group Co., Ltd. in Shanghai. The intent was conveyed during President Joko Widodo’s visit to the People’s Republic of China for the G20 Summit in Hangzhou.

Airlangga explained that the Indonesian government has launched economic deregulation policies to scrap those hampering Indonesia’s industry and business development. The government has issued 13 economic policy packages thus far.

The government is also mulling over lowering gas price to make it more competitive for industries, including the TPT sector.

Jiangsu Dongqun Investment Holding Group Co., Ltd has been asked to cooperate with local partners.