Jakarta (VNA) – Indonesia and Japan continue to further intensify comprehensive economic cooperation, especially in the industrial sector, and the synergy between the two countries is expected to have a positive impact on stimulating business enthusiasm amid the ongoing COVID-19 pandemic. Japan is one of Indonesia's strategic partners, Minister of Industry Agus Gumiwang Kartasasmita said on March 1, adding that bilateral trade excluding oil and gas sector grew at a pace of 5.06 percent during the 2014-2019 period. Japanese investment totalled 4.31 billion USD in 2019 and 2.58 billion USD last year. The Toyota Group has expressed an interest in injecting 2 billion USD into Indonesia and is committed to supporting the Indonesian Government's efforts to reduce carbon emissions by producing hybrid and electric cars. Of seven multinational corporations planning to relocate factories from China to Indonesia, three are three Japanese firms: Panasonic Manufacturing (worth 30 million USD), Denso (138 million USD), and Sagami Indonesia (50 million USD). Indonesia and Japan agreed to cooperate in developing the industrial sector through the New Manufacturing Industry Development Center (New MIDEC), said Eko SA Cahyanto, Director General of Resilience, Territory and International Industrial Access (KPAII) at the Ministry of Industry. The programme contains… Read full this story
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