Jakarta, CNN Indonesia –
Minister of Industry Agus Gumiwang Kartasasmita reveal Honda Motor Company, an automotive company from Japan, will relocate its factories from India to Indonesia. Not only that, they are also willing to increase investment in the country by IDR 5.2 trillion until 2024.
“Honda has committed to increase investment until 2024 of around Rp. 5.2 trillion,” said Agus, quoted on Friday (12/3).
The company also promised to grant export licenses for auto parts components to nine additional countries. The countries in question are Thailand, Malaysia, Vietnam, Japan, Pakistan, Saudi Arabia and three other Middle Eastern countries which he did not specify.
This is because these countries are part of the global supply chain for the automotive industry. In fact, Honda is reportedly planning to expand its export network to 31 countries in Asia, Africa and America.
In addition, Honda will develop new models in its vehicle production. This will be encouraged by Agus to increase variants in the market.
Not only Honda, other automotive manufacturers from Japan, such as Toyota and Suzuki, will also streamline their investment flows to Indonesia. Toyota is committed to increasing investment of around US $ 2 billion or equivalent to Rp28 trillion by 2024.
Meanwhile, Suzuki will inject fresh funds of around IDR 1.2 trillion into the country. The period is the same, until 2024.
(well/again)
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