Beijing (ANTARA) - Indonesia's Minister of Investment and Downstreaming, Rosan Roeslani, outlined several incentives devised by his government for Chinese investors during his visit to China, noting that many of them are unaware of the benefits.
"For example, they do not know that if they conduct research and development in Indonesia, they can receive a tax incentive of up to 300 percent starting from 2022," he told ANTARA in Beijing on Friday.
In addition, potential investors from China can access a fiscal incentive of up to 200 percent if they carry out vocational training and education in Indonesia, he added.
Roeslani revealed that during his visit to China, he secured new investment commitments worth US$7.4 billion.
The visit also aimed to encourage Chinese companies already investing in Indonesia to continue and expand their investments.
"If there are any investments that have not been realized due to certain issues, we will help provide solutions. I am confident we can find the best resolution for those still facing obstacles in doing business in Indonesia," Roeslani said.
During his trip, the minister visited several companies, including Build Your Dreams (BYD), CNGR New Material, and Contemporary Amperex Technology Co. Limited (CATL) in Guangzhou.
In his meeting with BYD Auto, he discussed efforts to accelerate the construction of an electric car factory in Subang, West Java.
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BYD plans to increase production capacity at the factory from the initial 150,000 units per year and is open to developing battery facilities and premium plug-in hybrid electric vehicles (PHEVs) early next year.
To support the production increase, the total workforce will grow from the previous 8,700 to 18,814. The BYD factory, spanning 126 hectares, is targeted to start commercial production in early 2026.
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Meanwhile, Roeslani and representatives from CNGR New Material discussed the development of CNGR's investment in Indonesia and the company's plan to build the Konasara Green Techno Industrial Area (KIHTK) in North Konawe, Southeast Sulawesi.
In the industrial area in Konawe, CNGR plans to integrate its industries from upstream to downstream.
CNGR has already invested in several smelter industry projects for nickel ore processing in Indonesia. Its total investment stands at Rp42.4 trillion (around US$2.6 billion), with local worker absorption estimated at 6,613.