Japanese largest chemical corporation Mitsubishi Chemical highlighted its plan to invest some US$150 million to expand its factory in Cilegon, Banten, during a meeting with Investment Coordinating Board (BKPM) Head Bahlil Lahadalia.
The meeting was held on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday (Jan 21), the BKPM noted in its statement here on Wednesday.
According to Lahadalia, the Tokyo-based company will need a tax holiday incentive to materialize its plan.
"Licensing for investment and incentive is now centralized under the BKPM. We will monitor the process until you can materialize the investment in Indonesia. Whenever you face a problem, just contact me," Lahadalia told CEO of Mitsubishi Chemical Holdings Corporation Hitoshi Ochi.
Attendees at the meeting comprised Indonesian Ambassador to Switzerland Muliaman D. Hadad, BKPM's Director of Promotion Imam, and members of the Investment Committee Yuki Hanafi and Rizal Calvary Marimbo.
Lahadalia welcomed the company's plan and encouraged it to further step up its investment in Indonesia.
Meanwhile, Ochi applauded BKPM's swift response and vowed to meet the requirements for investment, particularly pertaining to partnership with domestic businesses.
Mitsubishi Chemical Holdings Corp. is Japan’s largest chemical corporation set up in 2005. It operates through various segments encompassing electronic applications, designed materials, health care, chemicals, polymers, and others.
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