JAKARTA, July 9 (Xinhua) -- Indonesia Investment Coordinating Bureau (BKPM) and Bank of China Jakarta branch signed on Monday a Memorandum of Understanding (MoU) on joint cooperation to expand investments, promoting Indonesia-China sustainable development and economic cooperation.
The MoU was signed by BKPM Investment Plan Deputy Head Tamba Hutapea and Bank of China Jakarta branch Country Manager Zhang Chaoyang in BKPM office here.
The signing of MoU was aimed at enhancing the collaboration between the two agencies.
The two sides agreed to collaborate in related fields by exchanging information on related policies, investment procedures and investment opportunities in Indonesia and China.
The MoU was highly expected to facilitate Chinese investments in Indonesia.
"As a world's economic powerhouse, China now is ranked third in the list of Indonesia's Foreign Direct Investments (FDI) last year," BKPM Chairman Thomas Lembong said in his remarks at the MoU signing ceremony.
China's investments in Indonesia have grown 12.7 percent in the first quarter this year to 676.2 million U.S. dollars from 599.5 million U.S. dollars in the same period last year, according to data released by BKPM.