Monday, 15 Safar 1441 / 14 October 2019

Monday, 15 Safar 1441 / 14 October 2019

China to invest in Indonesian textile industry

Senin 30 Nov 2015 14:04 WIB

Rep: C09/ Red: Julkifli Marbun

Illustration

Illustration

Foto: Republika/Agung Supriyanto

REPUBLIKA.CO.ID, JAKARTA -- Indonesia was still considered to be an attractive country for Chinese investors to invest in textile industry and textile products (TPT).

"From the data, the value of textile sector interest reaches 8 million US dollars," said Head of Investment Coordinating Board (BKPM), Franky Sibarani, in an official statement, Sunday (29/11).

Franky explained, the interest showed that Indonesia is still potential for labor-intensive investment, in competing with other ASEAN countries, particularly Vietnam. Franky admitted, Vietnam is a strong competitor of Indonesia in attracting investment from the textile sector.

The data released by Financial Times in the period of 2010 to September 2015, showed five Chinese textile projects worth 470 million US dollars were invested to Vietnam. The projects were absorbing 12,280 workers.

Meanwhile, investments from China to Indonesia were more in metal and construction industries. For industrial metals, Chinese investment through 12 projects with an investment value of 5.3 billion US dollars, could absorb 5,906 workers.

To attract Chinese investment in textile sector, the government sought to improve the investment climate. One of the efforts was through economic policy package that provided certainty of remuneration.

Based on data of BKPM from January to September 2015, investment realization reached Rp 259.7 trillion or increased by 16.6 percent from the same period last year of Rp 343.7 trillion. This number gave employment to more than one million people, increased by 9.3 percent from last year of 960 336 people.

Meanwhile, realization of China's cumulative investment in January-September 2015 reached 406 million US dollars in 705 projects. In the past five years, realization of China's investment grew by 66 percent per year, from 174 million US dollars in 2010 to more than 800 million US dollars last year.

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