Zhejiang Entrepreneurs Eye Indonesian Solar Power Investment, Await Policy Consistency
A delegation of Chinese entrepreneurs from Zhejiang province met with a special adviser to Indonesia’s Finance Minister in Jakarta to discuss potential investments in the country. The group was led by Nan Cunhui, Chairman of the Zhejiang Chamber of Commerce, who is also the owner of the Chint conglomerate, which operates in manufacturing and technology. He was accompanied by Chint Solar CEO Lu Chuan.
During the meeting, Chint Solar announced it would begin exploring investment in new and renewable energy projects in Indonesia, specifically solar power plants or solar panels. Lu stated that Indonesia holds substantial economic promise. ‘From our perspective, Indonesia is very promising, with the largest population in Southeast Asia. Then, with the renewable energy policies we’ve seen in the news, we feel comfortable,’ he explained.
Lu also expressed confidence based on the experiences of other Chinese investors and his belief in the future of Indonesian investment. Nevertheless, he expressed hope that the government’s future policies would be fairer and friendlier towards foreign investment. ‘Especially regarding customs and taxation, and policy stability. When we enter the renewable energy sector here, we hope government policies can last for at least 5 to 10 years so that we can complete our work here,’ he added.
Special Adviser to the Finance Minister for Industry and Environmental Economics, Michael Goutama, stated that Chint Solar plans to build an Industrial and Renewable Energy Village. Michael explained that the company had been in discussions with the government for two years regarding the investment plan, but this was the first meeting attended directly by Nan Cunhui as the conglomerate’s owner. The visit is expected to result directly in an agreement for immediate investment implementation. ‘His team has been brought here, nine people, to directly bring an action plan. So it’s not just an MoU,’ he said.
During the meeting, Michael also presented various government policies, including the current fiscal condition. The fiscal authority is also open to offering fiscal incentives to enhance investment competitiveness. ‘For sure, under today’s regulatory regime, we already have a tax holiday and a list that is very conducive for investors. I think it is quite adequate, and the tax holiday decision rests with the Ministry of Finance as well,’ he explained.