China-India cooperation promotes dual-park project between the two countries

KEK Industropolis Batang Special Economic Zone (KEK Industropolis Batang), Central Java Province, has partnered with China State Construction Corporation (CSCEC) to develop an industrial park through the Twin Country Twin Park (TCTP) project.During the inauguration ceremony of Batang Industrial City Special Economic Zone (TCTP), Batang Integrated Industrial Zone Company Limited (PT KITB) signed a Memorandum of Understanding (MoU) with CSCEC. The cooperation was witnessed by Indonesia's Minister of Economic Coordination and the Chinese Ambassador to Indonesia.TCTP is a bilateral cooperation program starting from 2021, aiming to achieve a balance of investment between Indonesia and China through the construction of integrated industrial parks. The cooperation includes the planning and development of 500 hectares of industrial land in the Batang Industrial City Special Economic Zone (CSCEC), marketing cooperation to attract business investment and building a supply chain ecosystem. Initially, CSCEC has brought 20 Chinese companies and the potential investment in Batang over the next five years of the partnership is 60 trillion rupiah.The TCTP project will also be implemented in Wijayakusuma Industrial Zone in Semarang and Bintan Island Industrial Zone in Riau Islands, which is expected to bring more investment in the local industry, and the Batang Industrial City SEZ is expected to become an economically developed area like Shenzhen in China.