President Jokowi Welcomes Hyundai Delegation at State Palace

President Joko “Jokowi” Widodo met with a delegation from South Korean automotive company Hyundai Motors Group at the Merdeka Palace, Jakarta, Thursday (25/7). Photo by: JAY/PR.

President Joko “Jokowi” Widodo on Thursday (25/7) welcomed a delegation from South Korean automotive company Hyundai Motor Group at the Merdeka Palace, Jakarta.

Speaking to reporters after the meeting, Minister of Industry Airlangga Hartarto – who accompanied the President during the meeting – said that President Jokowi and the Hundai delegation discussed the company’s investment plan in Indonesia as well as the future of technology in automotive industry.

“We also discussed the issues of electric vehicles, fuel cell vehicles, autonomous vehicles, and flying vehicles,” Airlangga said.

Hyundai, the Minister added, is currently conducting a survey to find locations for its factory. The South Korean company is also drafting a fiscal incentive proposal and developing investment plans, he added.

“President Jokowi gave a positive response (to the plan) because automotive industry is one of the mainstays for Indonesia’s exports in the future,” Ailangga said, adding that Hyundai has set sights on allocating 40% of it production in Indonesia for exports and the remaining 60% for domestic market.

Nevertheless, the export destinations, he added, have not been decided yet.

The Minister further said that the Indonesian Government is still drafting provisions on fiscal incentives and expressed hope that trade agreements between Indonesia and South Korea, ASEAN and South Korea, and ASEAN and China can become precedents for fiscal incentives. (DND/JAY/ES)

Translated by: Ridwan Ibadurrohman
Edited by: Ersan Pamungkas