Batam continues to solidify its reputation as a prime investment destination with a recent visit from CNGR Advanced Material Co., Ltd., a leading Chinese company in the energy sector and a global supplier of lithium batteries. The visit on Friday, September 27, 2024, highlights the growing interest of international companies in Batam, particularly in the tin downstream industry.
As one of the world’s largest producers of tin, Indonesia holds significant potential to enhance its economic value through downstream processing. Tin-based products, such as electronic components, batteries, and other industrial materials, offer much higher export value. Batam, with its well-established and integrated industrial infrastructure, is perfectly positioned to become a key hub for such downstream industries. The city’s status as a Free Trade Zone (FTZ) also provides numerous incentives for companies looking to expand their operations in Indonesia. Its robust infrastructure, ease of import-export processes, and strategic location make Batam an ideal choice for multinational companies like CNGR.
CNGR Advanced Material has successfully expanded into markets across Europe, the United States, Japan, and South Korea. Following this success, CNGR is now considering Batam as its next strategic move. According to Zhu Jiangang, Vice President of CNGR Advanced Material, the company’s investment in Indonesia has already reached USD 7 billion and employed 8,000 workers. They are optimistic that this expansion will continue, with Batam’s downstream industry offering strong potential as the next investment destination.
During the meeting, Zhu Jiangang expressed his confidence in Batam’s promising market potential, noting the one-stop business solutions provided by Tunas Industrial Estate, led by Chrispin Andereas, which enhances the prospects for business growth. Zhu emphasized that Batam’s strategic location, streamlined import-export processes, and solid infrastructure were key factors driving CNGR’s interest in investing in the city. This aligns with CNGR’s ambition to continue its growth in the energy and downstream sectors, with plans to expand operations in countries such as Finland, Morocco, and Indonesia. Batam’s readiness to accommodate large-scale investments underscores its position as a leading industrial hub in Southeast Asia.