DBS GROUP HOLDINGS LTD
Supporting Bilateral Relations with China, Bank DBS Indonesia Held Indonesia-China Business Forum 2024 | Bahasa
Indonesia.28 May 2024.0 min read
Indonesia, 28 May 2024 - In support of the Indonesia-China bilateral relationship, this year, for the first time, Bank DBS Indonesia held the Indonesia-China Business Forum 2024 with the theme "Exploring Cross Border Expansion". At this event, Bank DBS Indonesia presented in-depth insights from various experts regarding the vital Indonesia-China partnership and its influence on the economic prospects of both countries. Also attending the forum were President Director of PT Bank DBS Indonesia Lim Chu Chong, Chief Executive Officer of DBS Bank China Ginger Cheng, Head of Institutional Banking Group of PT Bank DBS Indonesia Kunardy Lie, Chief Economist DBS Group Research Taimur Baig, Deputy Secretary General of Indonesian Chamber of Commerce and Industry (Kadin) China Committee Rahmad Widjaja Sakti, Deputy Secretary for Investment and Mining Coordination Coordinating Ministry for Maritime Affairs and Investment Rifky Setiawan, and Economist of Universitas Indonesia Ninasapti Triaswati. The event was attended by 225 participants consisting of representatives of various Indonesia, Chinese, and Hongkong companies.
China has become one of the largest export destinations from Indonesia, especially for mineral resources. In December 2023, non-oil and gas exports to China reached US$5,766.9 million. On the other hand, China is also one of the largest sources of non-oil and gas imports for Indonesia with a share of 33.42 percent.
President Director of PT Bank DBS Indonesia Lim Chu Chong said, "The relationship between Indonesia and China has been maintained over the years, underpinned by strong cultural and historical ties. In the realm of economics, we see the relationship strengthening further by 2024, with bilateral trade volumes expected to exceed $100 billion and significant investments in infrastructure and renewable energy projects. This relationship will contribute to Indonesia's projected Gross Domestic Product (GDP) growth of around 5 percent. Bank DBS Indonesia organized the Indonesia-China Business Forum 2024 to support this partnership, as well as our contribution towards the Golden Indonesia 2045."
In this case, the Indonesia-China Business Forum 2024 is a forum for discussion and collaboration to take concrete steps for the economic growth of the two countries. There were two discussion panel sessions conducted, where the first discussion panel with the theme "Building Bridges with China: Enhanced Foreign Direct Investment under the New Administration" deepened the key sectors where Chinese investment can be very impactful, especially in supporting the development of green industries and the downstreaming of Indonesia's natural resources, such as minerals, coal, natural gas, forestry, and others; how Chinese investment can contribute to sustainable development in Indonesia; to the position of China and Hong Kong in the Top 5 FDI contributors in Indonesia. This was followed by the second panel discussion session themed "Overview of Indonesia Capital Market" which deepened insights into the operational aspects of investing in Indonesia, including market entry strategies, tax considerations, and partnership opportunities; specific sectors in the capital market that are poised for growth, which are particularly relevant for foreign investors from China.
Not only through panel discussions, participants were also invited to join clinic sessions featuring speakers from renowned companies such as PT Indomobil Sukses Internasional, Tbk, PT Adaro Power, Shanghai SUS Environment Corp Ltd, PT SAIC-GM Wuling Multifinance Indonesia, and other companies. The clinic sessions deepened several industry focuses, such as automotive, metals, and mining to discuss EV markets in both countries; financing regulations and investment opportunities in renewable energy; as well as sessions on sustainability, Indonesia Emas 2045, and financial digitalization. The event concluded with networking activities facilitated by Bank DBS Indonesia, in line with its commitment to support the strategic partnership between Indonesia and China.
As of 2023, Chinese FDI in Indonesia amounted to approximately $7.8 billion, positioning China as one of the top investors in the country. Chinese investments have also been instrumental in the development of industrial zones in Indonesia. In the automotive sector, China plays an important role in the development EV and EV supply chain in Indonesia. Most recently, BYD announced over $1bn investment for EV factory in West Java with several other EV players to follow suit or have expressed interests in expanding into Indonesia. Meanwhile, China has been the major investors in Indonesia's EV battery and nickel industries.
Overall, participants and speakers who attended the Indonesia-China Business Forum 2024 experienced a valuable and insightful forum presented by the experts. They hope this forum will be held again to facilitate further collaborations and discuss future investments, hence meetings with businesses, government institutions, and banks are highly regarded.
This forum is a part of DBS Asian Insights Conference 2024 with the theme of "Election to Action: Crafting A Sustainable Future Towards Golden Indonesia 2045 and ESG Excellence".
Information about the DBS Asian Insights Conference 2024 can be found on Instagram: @dbsbankid and reruns of the conference can be accessed on Bank DBS Indonesia's YouTube channel.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named "World's Best Bank" by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's BestDigital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 15 consecutive years from 2009 to 2023. DBS Indonesia is ranked second in the top as World's Best Bank in Indonesia for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
China has become one of the largest export destinations from Indonesia, especially for mineral resources. In December 2023, non-oil and gas exports to China reached US$5,766.9 million. On the other hand, China is also one of the largest sources of non-oil and gas imports for Indonesia with a share of 33.42 percent.
President Director of PT Bank DBS Indonesia Lim Chu Chong said, "The relationship between Indonesia and China has been maintained over the years, underpinned by strong cultural and historical ties. In the realm of economics, we see the relationship strengthening further by 2024, with bilateral trade volumes expected to exceed $100 billion and significant investments in infrastructure and renewable energy projects. This relationship will contribute to Indonesia's projected Gross Domestic Product (GDP) growth of around 5 percent. Bank DBS Indonesia organized the Indonesia-China Business Forum 2024 to support this partnership, as well as our contribution towards the Golden Indonesia 2045."
In this case, the Indonesia-China Business Forum 2024 is a forum for discussion and collaboration to take concrete steps for the economic growth of the two countries. There were two discussion panel sessions conducted, where the first discussion panel with the theme "Building Bridges with China: Enhanced Foreign Direct Investment under the New Administration" deepened the key sectors where Chinese investment can be very impactful, especially in supporting the development of green industries and the downstreaming of Indonesia's natural resources, such as minerals, coal, natural gas, forestry, and others; how Chinese investment can contribute to sustainable development in Indonesia; to the position of China and Hong Kong in the Top 5 FDI contributors in Indonesia. This was followed by the second panel discussion session themed "Overview of Indonesia Capital Market" which deepened insights into the operational aspects of investing in Indonesia, including market entry strategies, tax considerations, and partnership opportunities; specific sectors in the capital market that are poised for growth, which are particularly relevant for foreign investors from China.
Not only through panel discussions, participants were also invited to join clinic sessions featuring speakers from renowned companies such as PT Indomobil Sukses Internasional, Tbk, PT Adaro Power, Shanghai SUS Environment Corp Ltd, PT SAIC-GM Wuling Multifinance Indonesia, and other companies. The clinic sessions deepened several industry focuses, such as automotive, metals, and mining to discuss EV markets in both countries; financing regulations and investment opportunities in renewable energy; as well as sessions on sustainability, Indonesia Emas 2045, and financial digitalization. The event concluded with networking activities facilitated by Bank DBS Indonesia, in line with its commitment to support the strategic partnership between Indonesia and China.
As of 2023, Chinese FDI in Indonesia amounted to approximately $7.8 billion, positioning China as one of the top investors in the country. Chinese investments have also been instrumental in the development of industrial zones in Indonesia. In the automotive sector, China plays an important role in the development EV and EV supply chain in Indonesia. Most recently, BYD announced over $1bn investment for EV factory in West Java with several other EV players to follow suit or have expressed interests in expanding into Indonesia. Meanwhile, China has been the major investors in Indonesia's EV battery and nickel industries.
Overall, participants and speakers who attended the Indonesia-China Business Forum 2024 experienced a valuable and insightful forum presented by the experts. They hope this forum will be held again to facilitate further collaborations and discuss future investments, hence meetings with businesses, government institutions, and banks are highly regarded.
This forum is a part of DBS Asian Insights Conference 2024 with the theme of "Election to Action: Crafting A Sustainable Future Towards Golden Indonesia 2045 and ESG Excellence".
Information about the DBS Asian Insights Conference 2024 can be found on Instagram: @dbsbankid and reruns of the conference can be accessed on Bank DBS Indonesia's YouTube channel.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named "World's Best Bank" by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's BestDigital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 15 consecutive years from 2009 to 2023. DBS Indonesia is ranked second in the top as World's Best Bank in Indonesia for three consecutive years from 2020 to 2022.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services in the corporate, SME and consumer banking segments that focuses on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
Attachments
- Original Link
- Permalink
Disclaimer
DBS Group Holdings Ltd. published this content on 28 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 May 2024 09:55:16 UTC.
