From March 22nd to March 28th 2023, the "Indonesia-China (Shandong) Exchange Week" was conducted by the Indonesian Embassy and Bank Indonesia Representative Office in Beijing in collaboration with the Dezhou City Government and the Shandong Provincial Government.
Following the COVID-19 pandemic, the Indonesian government aims to attract business owners from Shandong Province, China, to invest in multiple areas in Indonesia.
Many opportunities ahead
Shandong's achievement of largest GDP caught the attention of Indonesia, which is why Indonesia wants Shandong’s business owners to invest in the country.
"Shandong is the province with the third largest GDP in China," said Indonesian Ambassador to China Djauhari Oratmangun on Monday, March 27, 2023, as quoted from Republika.co.id.
Shandong Province, which is home to renowned electronic equipment brands such as Haier and Hisense, is expected to rank third in China's largest GDP with a growth of 3.9 percent, resulting in a total of 8.7 trillion yuan (IDR 19.2 trillion) in 2022.
Dezhou, an export hub in China, is home to two economic zones - the Dezhou Economic Development District and the Dezhou Yunhe Economic Development District.
"That is also the background for us holding trade, investment, education, culture, and tourism promotion activities in Shandong, Dezhou City to be precise," said Djauhari, as quoted from Antaranews.com.
Three important reasons
Head of Representative of Bank Indonesia Beijing Tutuk SH Cahyono stated three reasons why it’s important for Shandong to invest in Indonesia, including:
- Post-pandemic economic growth;
- Strong national economic policies; and
- Bank Indonesia policies that lead to stability and growth so as to create a conducive investment climate.
Indonesia also believes that making investment in Indonesia will strengthen cooperation ties between ASEAN and China.
"In addition to Indonesia's role as Chair of ASEAN, it will also promote economic recovery and make the Southeast Asian region a locomotive for global economic growth through collective enthusiasm and cooperation," said Tutuk, as quoted from Republika.co.id.
More Indonesian companies to participate
Approximately 50 Indonesian companies specializing in renewable energy, health equipment, digital economy, and economic zones in Central and East Java took part in the event, which was attended by a total of 200 participants, both in-person and virtually.
The Deputy Mayor of Dezhou Su Sheng along with the Executive Director of the BI Financial Market Development Department Donny Hutabarat, and the Head of the International Cooperation Division of the Shandong Academy of Sciences Xu Shaojian were among the attendees of the event.
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