Finance minister of Hong Kong gives money for green investments
Written by on January 23, 2023
During a meeting with Investment Coordinating Board (BKPM) Head Bahlil Lahadalia in Davos, Switzerland, Hong Kong Finance Minister Paul Chan Mo-Po presented options for green or environmentally friendly investment funding to Indonesia.
Chan Mo-Po noted at a meeting on the sidelines of the World Economic Forum (WEF) on January 19, 2023 that Indonesia and Hong Kong have traditionally been good allies in terms of investment and commerce.
“We also want to create an opportunity for Indonesia to exploit Hong Kong’s position as a global financial centre. Last year, we were first in Asia in terms of environmental funding, with a total value of US$65-67 million. If you have a project that requires green funding, please let us know and we would gladly assist,” Chan Mo-Po said in a statement issued Saturday in Jakarta.
Lahadalia also welcomed Chan Mo-presentation Po’s of green investment financing from Hong Kong.
“Since this is a top priority for the Indonesian government, we are happy to support financing projects in the green energy sector. Although the green economy is expanding, the distribution of investment is uneven, particularly in developing nations. Environmentally friendly investment funding can help to improve relations between the two nations “Added Lahadalia.
Lahadalia asserts that Southeast Asia is still a viable region for eco-friendly funding. Additionally, Indonesia is involved in a number of green investment initiatives, such as those involving the transition to renewable energy sources and the growth of the ecosystem for the batteries used in electric vehicles. Together, the potential may be developed and enhanced.
On the other side, Indonesia is also promoting value-added investment through downstreaming industries that are energy-focused and ecologically benign.
According to information from the Ministry of Investment/BKPM, Hong Kong’s investment in Indonesia has been realised to the tune of US$19 million over the past five years, with the three industries with the highest realised investment amounts being base metal, metal goods, non-machinery, and equipment industries (US$9.67 million), the electricity, gas, and water sector (US$3.14 million), and housing, industrial areas, and offices (US$1.92 million).