Guangdong Increases Investment in Indonesia, Boosts Local Industry Development

A forum jointly organised by the Foreign Affairs Office of the Guangdong Provincial Government and the Consulate General of the Republic of Indonesia in Guangzhou was held in Guangzhou, southern China, on Tuesday (18/8). The event focused on deep processing in the downstream sector of new energy products and light industrial manufacturing for consumer needs, and aimed to encourage investment by Guangdong companies in Indonesia.

More than 100 representatives from government, business and academia from China and Indonesia attended the event. Ma Wenfeng, director general of the Foreign Affairs Office of the Guangdong Provincial Government, said Guangdong and Indonesia have strong economic and trade relations. The trade value between Guangdong and Indonesia accounts for about one-sixth of total China-Indonesia trade. A number of leading Guangdong companies, including BYD, Midea and OPPO, have built and developed their businesses in Indonesia.

Ma said Guangdong is one of China’s main manufacturing bases. The province has all 31 official manufacturing industry categories and 10 industrial clusters, each generating annual revenue of 1 trillion yuan (1 yuan = Rp2,648) or about 148.8 billion US dollars (1 US dollar = Rp17,844).