On April 25, 2019, China International Capital Corporation Limited (“CICC”) and the Republic of Indonesia Investment Coordinating Board (“BKPM”) held a signing ceremony for the Memorandum of Understanding on Investment Promotion Cooperation (“MoU”). The objective of the MoU is to build a bridge to intensify cooperation while promoting sustainable development and economic cooperation between China and Indonesia. The MoU is signed by Mr. Bi Mingjian, CEO of CICC, and Mr. Thomas Trikasih Lembong, Chairman of BKPM.

Indonesia is the largest economy in Southeast Asia, and an important country to the “Belt and Road” Initiative. Since the launch of the “Belt and Road” Initiative, the Government of Indonesia has responded actively for cooperation. The strategic development of China and Indonesia has been continuously promoted, and cooperation in the fields of economy, trade, science & technology and humanities has achieved positive results. There have been an increasing number of Chinese companies seeking investment and cooperation opportunities in Indonesia, and large-scale projects have been constantly emerging. In recent years, the areas for investment cooperation are evolving to be more extensive, from traditional industries like infrastructure, mining, power, agriculture to emerging sectors like smart manufacturing and digital economy.  

According to the MoU, CICC and BKPM will promote and facilitate investment flow into Indonesia through Indonesia Investment Promotion Centers in various countries and CICC’s global network, exchange publicly available general information on policies, regulations and procedures on investment issues and potential investment opportunities in Indonesia, and assist companies/investors on prospective projects for investment and cooperation into Indonesia. 

Mr. Thomas Trikasih Lembong, Chairman of BKPM, said, “We are pleased to cooperate with CICC, the leading investment bank in China, to promote Chinese companies to invest in Indonesia. CICC’s expertise and rich experience in the financial service sector is complementary to BKPM’s project resources, and can therefore help companies to invest in Indonesia. The cooperation will promote investment in Indonesia in sectors including infrastructure, industrial, tourism, agriculture and emerging industries.”

Xu Yicheng, Secretary to the Board of CICC, said, “As the first joint venture investment bank in China, leveraging its profound knowledge in both domestic and overseas markets, rich experience in cross-border investment and financing as well as outstanding professionalism, CICC will work closely with BKPM, and actively deploy resources in promoting bilateral investment and financing projects between China and Indonesia.”

The signing of the MoU is in the context of deepening international cooperation under the “Belt and Road” Initiative, which can positively promote the “Belt and Road” Initiative among the ASEAN countries.

As one of the most internationalized Chinese investment bank, CICC is well-positioned to provide high-quality financial services for governments, institutions and enterprises of countries along the “Belt and Road” routes, promoting the concretion of the Belt and Road Initiative.