Indonesia Secures $2.2B Investment Commitments from China under TCTP Program
Jakarta. Indonesia has secured Rp 36.4 trillion ($2.2 billion) in investment commitments from China through a Twin Country-Two Park (TCTP) cooperation program signed this week in Fuzhou, Coordinating Economic Affairs Minister Airlangga Hartarto said on Thursday.
The memorandum of understanding, signed on Wednesday between Indonesia and the Chinese Communist Party, covers 16 cross-sector strategic projects.
“These projects fall under the twin-country-two-park program with a total investment commitment of Rp 36.4 trillion,” Airlangga said following a meeting with President Prabowo Subianto at the presidential palace.
According to Airlangga, the TCTP pipeline includes:
- A 1-million-ton steel production facility
- Meat and seafood processing
- Nickel-iron trade
- Research and innovation in high-tech textiles
- Tea and jasmine industry development
- Supply of textile raw materials
- Coal supply agreements
“There is also direct sourcing for agricultural products, including coconut and durian,” he added.
The entire investment commitment will be channeled into the Batang Industropolis Special Economic Zone (SEZ) in Central Java, inaugurated recently by President Prabowo. The Batang zone -- spanning 500 hectares -- is projected to become “Indonesia’s version of Sichuan” as a large-scale integrated industrial ecosystem.
“This is one of the measures to accelerate investment in the Batang Industrial Zone,” Airlangga said.
Beyond Batang, the TCTP partnership also links the Bintan industrial area in Indonesia’s Riau Islands with Fujian in China. The TCTP framework is Beijing’s industrial-cooperation model designed to synchronize domestic industrial parks with those in strategic partner countries, bolstering global supply chains and catalyzing large-scale investment flows.
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