Chinese Companies to Invest US$5 Billion in Indones1a

Jakarta (Antara) - China-based Minsheng Investment Corp. Ltd (CMI) is cooperating with Indonesia China Business Council (ICBC) and other Chinese investors to invest US$5 billion in Indonesia, CMI\'s CEO Li Huaizhen noted in a statement received here, Friday. \"Indonesia is one of the main markets for CMI when our company decided to expand its business at the global level. In terms of development, Indonesia and China are cooperating with each other, in which case, the demands of the Indonesian market can be met by the Chinese industries,\" Li stated. According to Li, the investment will boost Indonesia\'s economy through industrial development. Meanwhile, with regard to China, the capital transfer process shows that Chinese companies are competitive and have international competency. CMI will head some leading private companies to build the CMI industrial area in Indonesia for various industrial sectors, such as coal, chemical materials, electrolyte aluminum, metal and steel, power plant, cement, infrastructure, seaport, internet, and manufacturing and operations of commercial aircraft and helicopters. \"Chinese private companies cooperating with CMI will provide assistance to Indonesia in the form of technology and management,\" Li affirmed. The demand for goods and infrastructure development projects in Indonesia will serve as opportunities for Chinese companies to ensure that their technological and managerial capabilities can be accepted in the international market. In addition to investing in the industrial sector to meet Indonesia\'s market demands in the field of infrastructure and industrial manufacturing, CMI has also made a commitment to invest in the social sector to contribute to the development in Indonesia. \"We will also invest in the social sector, including education, healthcare, and other social welfare projects to contribute to the communities and develop some areas that will become new industrial cities,\" Li pointed out.(*)