Politics
Investment of IDR 94.23 T, Chinese Ambassador “Inspects” Jokowi’s Pride Project
Jakarta, CNBCIndonesia –Ambassador of the People's Republic of China to Indonesia, Wang LutongvisitSpecial Economic Zone (SEZ) JIIPE-Gresik. As one of the largest investors, he directly controlled the development of one of the National Strategic Projects (NSP) launched during the era of President JokoWidodo (Jokowi).
According to data from the Investment Coordination Board (BKPM), China has become one of the largest investors in Indonesia, with total investment during the third quarter of 2024 reaching $5.78 billion, equivalent to 94.23 trillion rupees. During his visit, Wang Lutong visited a number of major tenants of JIIPE, such as PT Freeport Indonesia, PT Hailiang Nova Material Indonesia and PT Xinyi Glass Indonesia.
PT Xinyi Glass Indonesia itself introduced a new production line with a daily melting capacity of 1,100 tons. This line is dedicated to supplying high quality float glass sheets to various sectors including construction, automotive and new energy to meet the diverse needs of the Indonesian and Southeast Asian markets.
JIIPE President Director Bambang Soetiono highlighted JIIPE's commitment to providing an integrated industrial ecosystem. “We offer ports, quality infrastructure and sustainable energy services to support global investments. This visit demonstrates the strong confidence of the Chinese government and industrial players in the potential of our region,” he said, as quoted in a written statement on Friday (12/20/2024).
The JIIPE-Gresik SEZ itself is a strategic cooperation between China and Indonesia, addressing the need for global industrial relocation. With modern infrastructure and efficient logistics, JIIPE is the main choice for Chinese companies to establish as a strategic production base in Southeast Asia.
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