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Indonesia works to attract firms relocating from China

The Indonesian government, through the Investment Coordinating Board (BKPM) and the Ministry of Industry, is working to attract companies relocating their operation from China due to trade tension with the US, according to BKPM Chairman Thomas Lembong.
Indonesia works to attract firms relocating from China ảnh 1BKPM Chairman Thomas Lembong
(Photo: thejakartapost.com)

Jakarta (VNA) – The Indonesian government, through the InvestmentCoordinating Board (BKPM) and the Ministry of Industry, is working to attractcompanies relocating their operation from China due to trade tension with theUS, according to BKPM Chairman Thomas Lembong.

One of Apple’s main suppliers, Pegatron, has successfully shifted its factoryto Batam by investing 40 million USD, and will generate export potential of upto 1 billion USD annually.

The Ministry of Industry is communicating with another supplier of Apple,Compel, to relocate to Indonesia. Foxconn and Wistron are the two mainsuppliers of Apple, who choose to go to India, the Indonesian news agency,Antara quoted the BKPM Chairman as saying.

Indeed, Indonesia will have to face fierce competition to be able to work onfactory relocation from China, he said.

Lembong laid stress on the current need to relocate industries outside Chinaamid China’s economic structure no longer being conducive to labour-intensiveindustries.

It’s time for China to relocate factories that were taken from Southeast Asiancountries 20 years ago, he said, adding the number of workers in China hasbegun to decrease and China'seconomic structure is no longer conducive to labour-intensive industries. -VNA
VNA
#Indonesian government#Investment Coordinating Board (BKPM)#Ministry of Industry#trade tension#BKPM Chairman Thomas Lembong#Pegatron#export potential#Antara#labour-intensive industries#Vietnam News Agency#Vietnamplus
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