At the B20 Investment Forum last Friday, the Ministry of Investment/BKPM signed a Memorandum of Understanding (MoU) with CNGR Advanced Material Co Ltd. This company is a ternary precursor manufacturer from China.
The signing of the memorandum of understanding was carried out at the Bali Nusa Dua Convention Center. This is the first step in a long-term project cooperation agreement with a total investment value of US$ 5 billion or Rp 77 trillion (exchange rate of Rp 15,400).
In the memorandum of understanding, the Ministry of Investment/BKPM is responsible for helping CNGR obtain all project permit issuances and investment incentives from the government.
The signing of this memorandum of understanding was carried out by Secretary of the Ministry / Chief Secretary of BKPM Ikmal Lukman and Chairman of CNGR Advanced Materials Co Ltd Deng Weiming. Minister of Investment/Head of BKPM Bahlil Lahadalia, who witnessed the signing, affirmed the government's commitment to make the electric vehicle ecosystem program a success.
"Indonesia is consistent in economic transformation through downstreaming, this happens because of reforms through the Job Creation Law. Currently, all licensing is centralized in the Risk-Based Online Single Submission (OSS) system," said Bahlil in a written statement, Saturday (12/11/2022).
Image source: Dok. BKPM