Indonesia To Receive 12 Companies’ Investments From Singapore And China For Textiles
Indonesia is offering metalworking equipment manufacturers lucrative opportunities — essentially the full spectrum from metal cutting right up to metrology, thanks to the textile sector.
Source: Tempo.co
Indonesia will be having more textile factories, Tempo.co noted, thanks to investments from Singapore and China, Coordinating Ministry for Maritime Affairs and Investment disclosed. The investments are expected to boost the country’s economy.
“The investors are from Indonesia, Singapore, and China,” the ministry’s Deputy for Investment and Mining Coordination, Septian Hario Seto, told Tempo on Thursday, 27 June 2024.
While declining to mention specific names, Seto said that a total of 12 companies are currently involved in the plan. He added the factories will likely be located in West Java and Central Java, including Subang, Brebes, Karawang, Klaten, Solo, and Sukoharjo in Indonesia.
Construction of the new textile factories is projected to generate tens of thousands of new jobs, or even up to 41,000, Seto stressed. During a MINDialogue discussion broadcast on CNBC TV’s YouTube channel on 20 June 2024, Coordinating Minister for Maritime Affairs and Fisheries, Luhut Binsar Pandjaitan, highlighted the interest of Chinese textile companies in investing in Indonesia and providing dormitories for its 108,000 employees. He said that Kertajati was the proposed location.
Luhut also instructed Minister of Agrarian Affairs and Spatial Planning Agus Harimurti Yudhoyono to expedite the land affairs. Apart from Kertajati, he said a textile factory will also be built in Sukoharjo, Central Java.
“If we want to have 6.5% or 7% economic growth, we have to ask for export-oriented investment,” he said.
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