Indonesia Pushes for Immediate Implementation of 30 China MoUs Worth Rp37.1 Trillion

The Indonesian government is pushing for the immediate implementation of 30 memorandums of understanding (MoUs) for economic cooperation with China, worth approximately Rp37.1 trillion. These agreements are part of the 'Two Countries Twin Parks' (TCTP) initiative. Coordinating Minister for Economy Airlangga Hartarto conveyed this encouragement during a meeting with Chinese Minister of Commerce Wang Wentao in Shanghai. The discussions focused on strengthening trade, investment, industrial zones, the digital economy, renewable energy, and regional economic cooperation. "Various memorandums of understanding that have been signed need to be immediately followed up with real investments," Airlangga stated. The TCTP scheme connects economic and industrial areas, local governments, and business actors of both countries. Indonesia is also encouraging the establishment of joint ventures between national and Chinese businesses to accelerate cooperation. Airlangga highlighted that while Indonesia and China have complementary economic structures, future cooperation should be directed towards more balanced trade, quality investment, technology transfer, human resource development, and strengthening national industries. China is a major trading partner for Indonesia and ranks among the top three sources of foreign investment. In the energy sector, Airlangga invited Chinese companies to increase investment in the development of solar power plants, aiming for up to 100 gigawatts. The government also seeks to develop a more complete domestic supply chain for the solar panel industry. Furthermore, Indonesia requested China's support for placing the Regional Comprehensive Economic Partnership (RCEP) Secretariat in Indonesia, viewing it as crucial for strengthening coordination and implementation of the agreement. Ahead of China's chairmanship of APEC in 2026, both countries will identify priority projects for follow-up or announcement at the leaders' meeting. "We hope that this meeting will be followed up through concrete cooperation and projects so that it will provide balanced benefits and mutual benefits for both countries," Airlangga concluded.