Indonesia Says Chinese  Companies Commit USD 7.46 Bn in New Investment  

Indonesia's investment ministry said several Chinese companies have expressed commitments to invest a total of USD 7.46 billion in new projects including factories producing silicon products and fiberglass.  
 

The ministry issued the statement late on Sunday, after Investment Minister Rosan Roeslani's visit to the Chinese cities of Hangzhou, Quzhou and Beijing between Dec. 18 and 20.  

The commitments include a plan by Hongshi Holding Group to build an industrial estate to produce silicon, polysilicon, as well as batteries and components, including a 2-gigawatt power plant to drive the park, worth USD 5 billion, the ministry said.  

China Jushi Co, opens new tab, a unit of Zhenshi Holding Group, plans a USD 1 billion investment in the fiberglass industry, it said. Wankai New Materials, opens new tab plans three stages of investment worth $1 billion in the petrochemicals sector, it said.  

Rosan said he asked nickel firm Huayou Holding Group, which already has large investments in the Southeast Asian country, to build a research and development centre in Indonesia. He said the company agreed and Jakarta would give a tax break.  

The companies did not immediately respond to requests for comment. The minister also met with automaker Geely Automobile Holdings, opens new tab and several other Chinese companies, the statement said. 

Source: Reuters 

 

Indonesia Sees Robust Growth in Electric Vehicle Sales Amid Global Decline 

Indonesia stands out in the global shift to electric mobility, recording robust EV sales growth in 2024 as markets like Germany and Japan see declines.  

EV sales in Indonesia jumped from 13,916 units in January-November 2023 to 32,277 units during the same period in 2024, out of a total car market of 784,788, according to the Indonesian Automotive Industry Association (Gaikindo). 

This growth is fueled by government incentives, including tax breaks that reduce the value-added tax on EVs with 40% locally made components to just 1%. However, affordability remains a barrier, with SUVs dominating more than 55% of Indonesia’s electric car sales. 

China’s role in shaping the EV market is prominent, with automakers like BYD driving adoption through competitive pricing. In 2024, Indonesia secured a USD 1.3 billion investment from BYD to establish a plant capable of producing 150,000 units annually by late 2025. Meanwhile, Indonesia's rich nickel reserves are drawing investments from global automakers, bolstering its domestic EV ecosystem and positioning the country as a strategic supplier of battery components. 

To address infrastructure gaps, the government has expanded public EV charging stations to 2,490 as of November 2024. While the global EV market faces challenges from tariffs on Chinese imports, Indonesia remains focused on leveraging its resources and policy measures to strengthen its position as a rising EV hub. 

Source: Jakarta Globe 

 

Indonesia, UK Seek to Boost Blue Economy Collaboration 

Maritime Affairs and Fisheries Minister Sakti Wahyu Trenggono and British Ambassador to Indonesia and Timor Leste, Dominic Jermey, sought to strengthen bilateral synergy by discussing blue economy development to support marine and fisheries sustainability. 

"The meeting discussed three topics: blue carbon, aquaculture, and fishing gear," said Minister Trenggono in a statement issued in Jakarta on Monday. 

The meeting was a follow-up to President Prabowo Subianto's state visit to London last month. 

 

At that time, Trenggono said, President Prabowo and British Prime Minister Keir Starmer agreed to strengthen and revitalize the relationship between the two countries, including marine and fisheries cooperation. 

"These include the blue economy, conservation, strengthening modern and sustainable fishing vessels, aquaculture fishing vessels, and marine and fisheries resource surveillance vessels," he informed. 

He said that the management of conservation areas must be undertaken jointly because it is related to carbon emission absorption, which is the main climate change trigger. 

Through the Blue Planet Fund, the British government is supporting the sustainable management of conservation areas and fisheries natural resources in Indonesia. 

Trenggono added that the meeting also discussed strategic programs initiated by Prabowo that could be supported by the marine and fisheries sector. 

The programs include the Free Nutritious Meals program targeting school-aged children and pregnant and breastfeeding mothers, food self-sufficiency, and 8 percent economic growth. 

Ambassador Jermey emphasized that strengthening cooperation in the marine and fisheries sectors could help achieve these programs. 

"We are talking about how to strengthen cooperation in these three areas to support President Prabowo's vision. Together, we can," he said. 

Trenggono informed that this was his second meeting with Jermey since his reappointment as Minister of Maritime Affairs and Fisheries in October 2024. 

 

Source: Antara