Top Kadin officials visit Shanghai to lure investment

Top Kadin officials visit Shanghai to lure investment

The Jakarta Post, Jakarta

Top officials of the Indonesian Chamber of Commerce and Industry
(Kadin) are on an official visit to Shanghai in a bid to boost
investment and trade between their business sectors.

"We'll form a small team to develop a framework on what can be
done by the business sector of the two countries," Kadin chairman
Mohamad S. Hidayat was quoted by Antara as saying, following a
meeting on Tuesday with the China Council for Promotion of
International Trade (CCPIT).

CCPIT is a semi-governmental institution that groups state
enterprises and the private sector.

Other senior Kadin officials attending the meeting were
Rachmat Gobel, Hariyadi B. Sukamdani, Chris Kanter and John A.
Prasetio. President director of the Indonesia Business
Association Center of Shanghai (IBAS) Elijah F. Widjaja and IBAS
executive director Adi Harsono also participated in the meeting.

Hidayat said the team would identify the economic sectors in
which businessmen from the two countries could increase
cooperation.

"I have proposed several sectors including energy, natural
resources, agriculture, forest industry, property and trade," he
said, adding that the team was expected to complete its work soon
and sign a memorandum of understanding sometime in January 2005.

Hidayat expressed a hope that increased cooperation would lead
to more Chinese investment in Indonesia, particularly from
Shanghai.

Citing IBAS data, he pointed out that Indonesian investment in
Shanghai reached US$1.74 billion as of 2001, while Shanghai
investment in Indonesia was much less.

Hidayat also said Kadin would encourage Shanghai businessmen
to invest in the infrastructure sector, a priority sector of the
United Indonesia Cabinet of Susilo Bambang Yudhoyono.

"CCPIT and the Shanghai government are planning to attend the
Infrastructure Business Summit in Jakarta, planned for the end of
January 2005," he said.