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Indonesia turns to China for keeping economic growth

Indonesia has been seeking closer economic ties with China to drive its economic growth in the context of the slowdown of the world’s economy, according to the Jakarta Post.
Indonesia turns to China for keeping economic growth ảnh 1Indonesian President Joko Widodo. (Source: EPA/VNA)

Jakarta (VNA) – Indonesia has been seeking closer economic ties with China to driveits economic growth in the context of the slowdown of the world’s economy,according to the Jakarta Post.

The newspapersaid Indonesia has been struggling to maintain its economic growth at aroundfive percent in recent years. Meanwhile, the International Monetary Fund (IMF)said China was still the largest driver of the world economy, contributing 1.2percent to the world’s economic growth in 2016.

Indonesia’s Investment Coordinating Board (BKPM) hasestablished a special division providing all services in Chinese to facilitate Chineseinvestors.

The general secretary of the Chinesetrade office in Indonesia said Chinese investors are very interested in production,e-commerce and nickel mining in Indonesia.

At least 200 Chineseenterprises are operating in Indonesia, with around 30 investing in mining andthe remaining in electricity, electronics, agriculture, and logistics.

According to BKPM statistics,China’s investment in Indonesia increased 291 percent to reach 1.5 billion USDin the first nine months of 2016.

China is one of Indonesia’sleading trade partners with two-way trade value hitting 45.8 billion USD in2016. VNA

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