According to the Investment Coordinating Board (BKPM), it has been assigned the task of overseeing investments from China in Indonesia’s textile sector. China has expressed its desire to invest $ 1.9 billion in the country.
One on one meetings were held between parties from both these countries in co-operation with the Consulate General of Indonesia in Shanghai last week. The rising interest in the country’s textile segment, BKPM feels, indicates that Indonesia remains an attractive country for investments in labour-intensive sectors such as textiles and textile products (TPT).
BKPM sights Vietnam as its main competitor. It says that as per the data released by the Financial Times, between September 2010 to September 2015 period, five projects were initiated by China worth $470 million in Vietnam, which is a major competition to Indonesia as far as attracting foreign investments are concerned.
www.bkpm.go.id
