Chinese private companies to invest $5b in Indonesia
Updated: 2015-04-21 17:07
(Xinhua)
|
|||||||||
JAKARTA - China's Minsheng Investment Corp, Ltd (CMI) announced Tuesday that it will lead a group of Chinese private companies to invest $5 billion in Indonesia.
"This investment is a clear demonstration of CMI's commitment to supporting China and Indonesia's existing international agenda on overcoming economic challenges and providing investment for growth,"the group said in a press release during Tuesday's Asian African Business Summit.
Li Huaizhen, CEO of CMI who is attending the business summit, said the group's key vision is to take "the full utilization of domestic and overseas resources and markets, and to pursue a globalization strategy".
The $5 billion investment agreement is a strategic move for CMI, as it expands to overseas markets, said the press release, adding that the Chinese investor has partnered with the Indonesia China Business Council (ICBC) in its investments in Indonesia.
"Indonesia is one of CMI's key focus markets when it comes to going global. The development stages of Indonesia,"Li was quoted by the press release as saying.
"As the current market demands of Indonesia are being met by China's mature industrial sectors. This investment will stimulate the local economy by improving industries and creating jobs, while for China, the transfer of our capacity will show an improvement for Chinese companies."
As part of the investment, CMI will guide dozens of Chinese private enterprises to construct a CMI Indonesia industrial parks.
The park will bring in a wide array of industries and sectors to the Indonesian market including coal, chemical, electrolytic aluminium, iron and steel, power plant, cement, infrastructure, port, Internet and helicopter production and operation.
The cooperation model of this project will bring advanced production technology, managerial know-how, capital and talent to Indonesia, helping boost the economic development through more jobs and considerable tax revenues for the Indonesian market.
"Chinese private companies partnering with CMI enjoy strong comparative advantages from Indonesia in terms of technology, management and technique," Li said.
"While Indonesia continues to produce more demand and projects as part of their strategy for infrastructure improvement, this is an opportunity for Chinese companies to comprehensively test their technological and managerial capabilities in another market."
Besides the investments in industries to meet Indonesia's demand for infrastructure and industrial production, CMI is also committed to invest in the social areas in a bid to contribute to the balanced development of Indonesia, said the press release.
"Besides the industrial parks, we will also invest in the social areas including education, healthcare and other social welfare projects, to make more contribution to the community and develop these areas into new-concept industrial towns," Li was quoted as saying.
With a registered capital of approximately $8 billion, CMI is a leading private investment group established by 59 private enterprises in China.
- Indonesia says Jakarta will compete with Beijing to host AIIB
- China plays crucial role in advancing South-South cooperation
- China, Indonesia pledge for further economic cooperation
- Chinese, Indonesian senior officials meet on economic cooperation
- Chinese companies cater to Indonesia's need of infrastructure
- Shanghai auto show kicks off
- Annual Tweed Run held in central London
- Wood sculptures discovered inside cliffside cave in Chongqing
- Antiriot device earns national patent for Jilin farmer
- 7 trends that will shape China's supply chain
- Girls celebrate adulthood in NW China
- Couple linked by a stick
- Natural History Museum opens in Shanghai
Most Viewed
Editor's Picks
What do we know about AIIB |
Full coverage of Boao Forum for Asia |
Annual legislative and political advisory sessions |
Spring Festival trends reflect a changing China |
Patent applications lead the world |
BC lures Chinese tourists |
Today's Top News
China, Pakistan elevate relations, commit to long-lasting friendship
'Belt-Road' to exchange goodwill with trade
Swarm of Chinese applications deplete US investor visas
AIIB looks to be efficient and 'green'
Bridging cultures with laughter
and song
Central bank cuts ratio for reserves
China's real estate market is a key global contributor: Conference
Envoy: Many benefits to Xi's visit
US Weekly
Geared to go |
The place to be |