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Two Chinese textile firms shifting to Indonesia
23
Aug '12
Two China-based textile producers are shifting their production units to Indonesia, Imron Cotan, Indonesia’s Ambassador to China, has said. 
 
The two textile makers disclosed their plans during a meeting of the Aigo Entrepreneurs Alliance (AEA), an alliance of leading Chinese entrepreneurs, the envoy said.
 
The decision of the Chinese companies to relocate to Indonesia is based on positive investment climate in Indonesia, as the country has devised a number of investment policies to draw overseas investors. These policies are helping Indonesia grow into a key investment destination, Mr. Imron said.
 
He said China’s “go global” policy has stimulated expansion of Chinese manufacturing firms overseas.
 
On the other side, the Government of Indonesia is geared up to welcome Chinese investors willing to participate in the Master Plan for the Acceleration and Expansion of Indonesia’s Economic Development (MP3EI).
 
Pursuant to the MP3EI program, which stretches from 2011 to 2025, the Indonesian Government intends to develop infrastructure projects in six corridors across the nation. The six projects would necessitate a total outlay of US$ 600 billion.
 
In September, an AEA delegation would visit Indonesia to follow up on the AEA meeting, the envoy said.
 

Fibre2fashion News Desk - India


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