March 1, Guangdong Business Community Chinese New Year Gathering in Jakarta
The Indonesian general election has settled, and Guangdong businesses are setting sail for overseas! "Setting sail and heading south to the Nanyang" has become the main theme for enterprises going global in 2024. The Guangdong Chamber of Commerce's call to assemble is also to create an overseas home for Guangdong enterprises! In order to better serve Guangdong enterprises in Indonesia and build a better hometown, please invite your friends who are Guangdong enterprises already in Indonesia or preparing to enter Indonesia to join the group. Welcome Guangdong businesses home!
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China Development Bank Allocates Funds to Indonesian Railway Company to Solve High-Speed Rail Cost Overruns
China Development Bank (CDB) has disbursed $448 million (approximately IDR 6.9 trillion) to Indonesian Railway Company (KAI). This loan will be used to cover cost overruns for the Jakarta-Bandung High-Speed Railway, also known as the "Whoosh" high-speed rail project. In a significant document submitted by KAI to the Financial Services Authority, the loan is denominated in both US dollars and Chinese yuan. The loan is divided into two parts: Tranche A, amounting to $230.9 million (approximately IDR 3.6 trillion), was disbursed on February 7. Secondly, Tranche B is RMB 1.54 billion
Three Key China-Indonesia Cooperation Projects
Jakarta-Bandung High-Speed Railway The Jakarta-Bandung High-Speed Railway began full construction in June 2018 and officially opened on October 2, 2023. With a total length of 142 km and a maximum design speed of 350 km/h, it connects Indonesia's capital Jakarta with Bandung. It is the first overseas project of China's high-speed rail to involve the entire system, all elements, and the complete industrial chain, and it is also a landmark project of the China-Indonesia joint construction of the Belt and Road and pragmatic cooperation. Floating Solar Photovoltaic On November 9, 2023, the largest floating solar photovoltaic project in Southeast Asia, undertaken by a Chinese enterprise, achieved full-capacity grid connection at the Cirata Reservoir in West Java, Indonesia. The project is expected to generate 300,000 MWh of electricity annually, providing clean power for approximately 50,000 households.
If Prabowo Wins Indonesian Election, It May Be Beneficial for Chinese Companies
Indonesians are voting for their first new president in a decade, and opinion polls show the former general is determined to continue pursuing an economic strategy based on business relations with China, while also maintaining a more neutral foreign policy stance between the US and China. Prabowo Subianto, the Defense Minister participating in the February 14 election, has pledged to build on President Joko Widodo's business-friendly policies, including increasing Chinese foreign investment during his 10 years in office by
Indonesia's 2023 Export Growth Driven by Policies and Enhanced Global Cooperation
According to the latest data released by the Central Bureau of Statistics of Indonesia, the country's export volume in 2023 increased by 8.55% year-on-year compared to 2022, with December exports reaching as high as US$22.41 billion, marking the 44th consecutive month of trade surplus since May 2020. Febrio, Head of the Fiscal Policy Agency of Indonesia, pointed out that the positive export trend in 2023 reflects the strong adaptability of Indonesia's economic development. To expand export trade, Indonesia has been continuously advancing relevant policies and measures in recent years, establishing specialized institutions such as trade promotion centers.
Indonesia Business Guide Wishes You a Happy Chinese New Year
As the New Year bell rings, we, Indonesia Business Guide, extend our sincerest New Year wishes to all partners and users. In this new year full of hope and opportunities, we look forward to continuing to provide you with the most professional and comprehensive information on Chinese enterprises in Indonesia, helping your business thrive in Indonesia. Over the past year, we have witnessed countless success stories of enterprises in the Indonesian market and felt the trust and support of every user for our services. This is our driving force and the source of our continuous improvement. In 2023, we will continue to uphold the concept of "
SUPCON and Indonesia's State Gas Company Officially Sign Strategic Cooperation Memorandum
Recently, SUPCON Technology Co., Ltd. (referred to as “SUPCON”) and Perusahaan Gas Negara (referred to as “PGN”) officially signed a strategic cooperation memorandum on automation and intelligence for natural gas pipeline network facilities, marking a solid and important step for SUPCON and PGN in jointly promoting the digital, intelligent, and green development of the energy industry. PGN Group Director and President of Strategy and Business Development Rosa Permata Sari, President Assistant Taufan Zamzami, Head of Business Development Dimas Haryo Dito, PGNCOM (PGN's subsidiary for telecommunications, digitalization, and informatization) Chairman and President Larassetyo Wibowo, SUPCON Chairman and President Cui Shan, SEA Regional President Jack Li, and Indonesia Branch General Manager Huang Di attended the signing ceremony. Rosa Permata Sari and Cui Shan signed the agreement on behalf of both parties.
US Media: Rising 'Dirty Nickel' Reputation Threatens Indonesia's EV Dream
“Originally harboring dreams of prosperous development for the electric vehicle manufacturing industry, this has instead led to increased coal consumption.” The Wall Street Journal reported on the 4th that Indonesia's ban on raw nickel exports means more smelters will be built domestically, and before the arrival of a more environmentally friendly electric vehicle era, the country may have to first experience a “coal boom.” Nickel is one of the key materials for electric vehicle batteries, and Indonesia accounts for half of the global nickel supply. In recent years, to enhance and optimize the economic benefits of domestic resources, the Indonesian government has adopted a “downstreaming” policy that only allows important metal resources, including nickel, to be exported in refined metal form. In 2020, the government completely banned nickel exports, hoping to attract foreign investment in Indonesia's metal industry, establish a localized industrial system, connect the nickel industry with the electric vehicle industry, and develop its own EV supply chain.