The Coordinating Minister Luhut explained the investment conditions that had to be met, namely the use of the latest technology

The Coordinating Minister for Maritime and Investment, Luhut Binsar Pandjaitan, said technology transfer as one of the conditions is investing in Indonesia, it could also be a long-term investment for the company.

As he has often said, Menko Luhut explained the investment requirements that must be met, namely the use of the latest technology, transferring technology, investing upstream to downstream so as to provide added value, as well as business to business cooperation.

For some regions it may be difficult to get a ready workforce such as in Morowali they have to build educational facilities there, such as polytechnics, vocational training in stages. So that within a period of three to five years foreign employees can already be replaced by local communities.

"If you build educational facilities or help educate the surrounding community, they will keep on remembering your services forever. You will never know, but maybe in the future they will help you," said Coordinating Minister Luhut when speaking at the Huayou International Conference which  the fourth in the city of Tongxiang, Zhejiang province, China on Thursday (5/12/2019).

According to him it would not hurt for companies to share knowledge about technology.  "Technology continues to develop, what you have now might be replaced by newer technology tomorrow," he said.

On this occasion, the Coordinating Minister Luhut also conveyed several investment potentials, especially environmentally friendly ones to investors. And the efforts of the government and the private sector in discovering new minerals and alternative energy.

In his closing speech, Coordinating Minister Luhut said he wanted to see more foreign investors coming to Indonesia.

Investor

Earlier, Coordinating Minister Luhut visited the Zhenshi Holding Group headquarters in Tongxiang City, and was received by its founder Zhang Yuqiang.  Zhenshi Group is one of the largest Fiberglass producers in the world.

To Mr. Zhang Menko Luhut offered to invest in green energy areas, such as hydropower in Kalimantan or Papua, for example.

"Why is green energy so important for now? Because this lifestyle is the choice of many people in the world today. Investors from Japan and Europe have expressed interest in investing in this hydropower," explained Coordinating Minister Luhut to Mr. Zhang.

Mr.  Zhang, who also does business in other fields such as hospitality, hospitals, minerals, housing logistics and others, said he was indeed considering investing in Indonesia.

"We will help to the maximum. But one thing, if the help you ask from us will make us destroy nature, we cannot help. Because maintaining the preservation of nature is our commitment," concluded the Coordinating Minister Luhut.