Indonesia pushes stronger cooperation with China: Ministry

Jakarta (ANTARA) – The Ministry of Industry is encouraging greater cooperation in the industrial sector with the Chinese government to make the supply chains of the two countries more competitive.

“We also encourage stronger cooperation between business players in Indonesia and business players in China to bolster not only things related to business development but also streamlining supply chains,” the ministry’s secretary general, Eko Cahyanto, said.

He made the statement at the Indonesia-China Trade and Industrial Cooperation Seminar in Jakarta on Thursday.

He noted that cooperation between Indonesia and China has been quite good in the past two decades.

In the period from 2019 to 2023, China’s investment in Indonesia reached US$28.4 billion, with the manufacturing sector attracting the biggest portion, or around 54 percent, of the investment from China.

Cahyanto said that to boost cooperation with China, the Indonesian government has prepared incentives, both fiscal and non-fiscal, as well as adequate industrial human resources.

“The Ministry of Industry has also created quite a large number of industrial workers to support new investments, especially pioneer investments,” he added.

The government has prepared several tax relief policies for investors, including a tax holiday in the form of corporate income tax exemption for 5–20 years for pioneer industries with large and strategic investments.

Furthermore, it is offering a tax allowance in the form of a reduction in company income tax, namely 30 percent of the investment value, for six years.

It is also providing an exemption from import fees for two years for machinery, equipment, and raw materials.

In addition, there is a super tax deduction of up to 200 percent for business players carrying out vocational activities and up to 300 percent for those carrying out research and development in Indonesia.

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Translator: Ahmad Muzdaffar, Raka Adji
Editor: Anton Santoso
Copyright © ANTARA 2024

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