China and Indonesia Sign MOUs to Promote Development of Strategic Industrial Zones and Two-way Investment
On May 25, Wang Wentao, China’s Minister of Commerce, and Airlangga Hartarto, Indonesia’s Coordinating Minister for Economic Affairs, signed two significant Memoranda of Understanding (MoUs): the “Memorandum of Understanding on Strengthening Economic Cooperation in Industrial and Supply Chain” and the “Memorandum of Understanding on the Two Countries Twin Parks Cooperation Project.” These two MoUs are part of the four MoUs previously agreed upon by Indonesian President Prabowo Subianto and Chinese Premier Li Qiang.
The “Economic Cooperation in Industrial and Supply Chain” MoU aims to deepen cooperation between the two countries in the fields of industrial development and supply chain, with a focus on promoting the development of strategic industries such as manufacturing, logistics, high technology, and new energy. This cooperation is expected to bring an investment potential of approximately 81.5 trillion Indonesian rupiah to Indonesia and create about 15,000 jobs.
As a continuation of further strengthening industrial cooperation, China and Indonesia also signed the “Two Countries Twin Parks Cooperation Project MoU.” This project is set to become a model for two-way cooperation between the two countries in the fields of economy and trade, with the goal of creating a sustainable, long-term, and stable economic and trade cooperation environment based on the principles of equality and mutual benefit.
The cooperation under the “Two Countries Twin Parks” framework will be implemented in several strategic industrial zones in Indonesia, including the Batang Integrated Industrial Zone, Wijayakusuma Industrial Zone, and Bintan Industrial Zone, with a target investment potential of about 61.5 trillion Indonesian rupiah and an estimated absorption of around 10,500 workers.
Minister Airlangga stated that the “Two Countries Twin Parks” project symbolizes the future partnership between the two countries. The project not only connects industrial zones but also integrates technology, human resources, and innovation to drive inclusive and sustainable economic growth. The two countries have pledged to create a long-term and stable economic and trade cooperation environment based on the principles of equality and mutual benefit.
In addition, the two countries have committed to providing policy support and facilitation for the smooth implementation of the projects and to enhancing the supervision of project execution to ensure their positive impact on the development of industrial zones and two-way investment.
Through this cooperation framework, the bilateral relations between Indonesia and China will be further deepened, driving greater progress in industrial upgrading, investment growth, and improvement of people’s livelihoods.
Source of news:
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