Jakarta (ANTARA) - The "Two Countries Twins Park" (TCTP) cooperation scheme will support and intensify cooperation between Indonesia and China, especially in the industrial sector, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan stated.
"TCTP is expected to be a driving force for the two countries to increase the development of industrial supporting infrastructure, such as maritime logistics infrastructure, and support policies, such as ease of customs licensing for industrial products," Pandjaitan noted in a statement in Jakarta, Thursday.
Pandjaitan made the remarks at the China (Fujian)-Indonesia “Two Countries Twin Parks, Economic, and Trade Cooperation Promotion Conference” in Jakarta, Tuesday (May 9), which was carried out in cooperation with the Indonesia-China High-Level Dialogue and Cooperation Mechanism (HDCM) with Fujian Province.
TCTP was initiated to promote synergy between the priority development visions of the two countries, which are the World Maritime Axis and Belt and Road Initiative in the form of industrial area cooperation.
The sectors prioritized by the two countries in TCTP are the maritime industry, food manufacturing, building materials, and electronics, among others, agreed upon by both nations.
Since the inking of a memorandum of understanding (MoU) by the two countries on January 12, 2021, both Indonesia and China have pushed for investment cooperation in the agreed industrial areas, i.e., the Yuanhong Investment Zone in China with industrial areas in Bintan, Semarang, and Batang in Indonesia.
"We continue to open opportunities for business people in various sectors to be involved in this collaboration," he affirmed.
During the period from 2018 to 2022, the value of China's investment in Indonesia reached US$23.35 billion channeled into 12,200 projects. Hence, TCTP is expected to continue to increase Chinese investment in Indonesia, especially in the industrial sector.
In order to improve the quality of investment in the TCTP corridor, Pandjaitan assessed that both parties should continue to optimize natural resources, create jobs, boost productivity, transfer knowledge and technology, increase competitiveness, and optimize export-oriented industries.
"The Indonesian government will continue to work closely with the Government of the People's Republic of China, especially the Fujian Provincial Government, to enhance industrial cooperation that is mutually beneficial for both countries in the TCTP corridor," Pandjaitan stated.
During this meeting, 40 business players signed 21 cooperation projects worth approximately 43.2 billion renminbi, or around US$6.36 billion, including for the establishment of the China-Indonesia Cross-Border e-Commerce Industrial Park between Fuzhou Banxi Technology Co., Ltd and Sandratex and for development of the 5G Fixed-Wireless-Access Network in Java, Indonesia, through collaboration forged between Fujian Taikuk Technologies Investment Company Limited and PT Solusi Sinergi Digital Tbk.
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