Investment Hubei Province in Indonesia Reaches Millions US Dollars

Provinces in central China, especially Hubei province, have a good level of economic progress that has created a lot of potential for cooperation, especially in the fields of investment and trade with Indonesia.

The Indonesian Embassy in Beijing specifically looked at this region to be able to invest and trade with Indonesia. Various efforts have been made to strengthen economic cooperation with Hubei and Indonesia.

Most recently, the Indonesian Ambassador of China, Djauhari Oratmangun, paid a visit to Wuhan City, Hubei Province to attend the Forum on Global Production Capacity and Business Production, on 19-20 October 2018.

The forum was held in order to increase cooperation between the 6 central Chinese provinces (Hubei, Shanxi, Anhui, Jiangxi, Henan, and Hunan) with various countries, including Indonesia.

In the event, Ambassador Djauhari witnessed the signing of the MOU on cooperation between China Gezhouba Group (one of the leading state-owned enterprises in construction and engineering in China from Hubei Province) and PT Mega Kuningan Internasional with a contract value of 150 million US dollars.

Gezhouba Group is a active company in doing business in Indonesia. Currently they are finalizing a 190MW hydropower investment project with a total investment of around 620 million US dollars. During the last three years, the value of the project that Gezhouba Group has signed in Indonesia has reached US $ 230 million.

Ambassador Djauhari attended the Forum on Global Capacity and Business Production Production in Wuhan City, Hubei Province, China, on 19-20 October 2018. (Photo: Indonesian Embassy in China)

During a visit in Wuhan, Ambassador Djauhari also took the time to visit the Yangtze Optical Fiber and Cable Joint Stock Ltd. company. Co. (YOFC). The local companies engaged in the manufacture of fiber optic cables have established two factories in Karawang, Indonesia with an investment of 36 million US dollars.

“YFOC’s innovation in the field of fiber optics, a key component in digital communications, has also been transferred to two of its factories in Indonesia. In the future, YFOC will increase production capacity in Indonesia, and make Indonesia production and distribution hub for the ASEAN and Pacific regions,” said the official statement from Ambassador Djauhari received by, Monday (10/22/2018).

As part of a series of activities in the city of Wuhan, Ambassador Djauhari also became one of the panelists in the Construction and Engineering Session, at the Forum on Global Production Capacity and Business Cooperation.

In his presentation, Ambassador Djauhari explained Indonesia’s economic development and policies, as well as the latest investment incentives to around 200 forum participants from various leading construction companies in China.

“In the future, it is expected that investment and economic cooperation between Indonesia and China will increase and further advance the two great nations,” said Ambassador Djauhari. (rls / bas)


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