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.