Chinese investors ready to tap into Central Java manufacturing sector

JAKARTA, Nov 7, 2019, The Jakarta Post. The 15th Central Java Investment Business Forum, held at Hotel Bidakara in Jakarta on Tuesday, attracted 53 Chinese investors out of the 73 prospective foreign investors. The Chinese investors, mostly from the wood and furniture industry, sought to discover investment opportunities and potential locations for new manufacturing projects in Central Java, The Jakarta Post reported.

“The Chinese entrepreneurs are planning to move the industry to Central Java by the end of the year so they can soon start the production,” said Ratna Kawuri, the head of the Central Java Capital Investment and One-Stop Integrated Services Agency.

Some of the Chinese investors declared their readiness to develop the local woodcraft industry in Central Java. An estimated 2,000 hectares of land is required for the business expansion.

“After attending this business forum, we will take them to see the prospective land in Pemalang and Kendal in Central Java on the next day,” Ratna explained. The interested Chinese investors are set to collaborate with the Indonesian Furniture and Craft Association (HIMKI).

The 15th Central Java Investment Business Forum provided a glimpse into the two main sectors of the province: tourism and manufacturing, Ratna added.

The event drew 254 local entrepreneurs and 70 business project operators from different provinces. Attending it were 110 guests from foreign embassies, governmental agencies and institutions, state-owned enterprises and banks, among others.

Central Java had received a lot of attention from foreign investors, said Central Java Governor Ganjar Pranowo during his opening remarks at the event, noting that the stable investment climate and improved infrastructure had increased competitiveness.

Ganjar expressed confidence about his province surpassing the Rp 47.42 trillion investment target. “We have competitive advantages, including the enormous potential, infrastructure, human resources and a strong commitment to promote investments through business-friendly regulations,” Ganjar said.