Seven companies to relocate facilities to Indonesia, invest $850m
President Joko “Jokowi” Widodo announced on Tuesday that seven foreign companies had confirmed plans to relocate production facilities to Indonesia, mostly from China, an encouraging signal for the country’s investment climate amid the pandemic.
The relocation of factories of the seven companies, which include South Korean industrial conglomerate LG and Japanese electronics giant Panasonic, is estimated to bring investment of US$850 million to the country and potential employment for 30,000 workers, according to the Investment Coordinating Board (BKPM).
“I’ve ordered the ministers and the BKPM head to provide the best services for the industries relocating from China to Indonesia,” Jokowi said on Tuesday during a visit to the Batang Industrial Park in Central Java. “If there is any difficulty with permit processing, I’ve ordered the BKPM head to take care of it, from A to Z, so investors can feel catered to.”