CFLD International marks further progress at latest Indonesia project

CFLD International, the international arm of China Fortune Land Development and an end-to-end master planner, creator and operator of full-scale New Industry Cities, marked its continued progress in Asia with a ground-breaking ceremony on June 20 for the tenants of its Karawang New Industry City (KNIC) project in Indonesia.

Strategically located 47 kilometers east of Jakarta, in the heart of the Jakarta-Bandung economic corridor, the 205-hectare KNIC features world-class infrastructure, digital connectivity, facilities and amenities specifically designed for food, automobile and motorcycles, consumer electronics, and building materials industries. It also houses innovation parks for small and medium enterprises (SMEs).

The ceremony was graced by more than 200 guests, partners, tenants and officials, including Indonesia's Minister of Industry Airlangga Hartarto; Governor of West Java Ridwan Kamil; Minister-Counselor of the Economic and Commercial Counselor's Office of the Embassy of China in Indonesia Wang Liping; Chairman of Commission 6of the People's Representative Council, Indonesia Dito Ganinduto; Deputy Chairman of the Indonesia Investment Coordinating Board Wisnu Wijaya Soedibjo; and Regent of Karawang Regency Cellica Nurrachadiana.

More than $100 million of investment has already been committed from a strong suite of regional and international tenants and partners. This includes PT Wook Global Technology, PT Ikimura Indotools Centre, PT Ruiyuan Karawang Industrial Innovation and Development, PT Wonderful Food International, PT Brightgene Biomedical Indonesia, PT Binamitra Kwartasedaya, Zhengjia Henglin Co Ltd, PT Sandin Heavy Equipment, and Dongguan JiaYaoXing Packing Products Co Ltd. About 4,000 local jobs are expected to be created from this tranche alone.

KNIC aligns with the local government's commitment to economic and social progress. When fully completed, the project in its entirety is expected to create 40,000 new jobs locally, while contributing $12 million in local taxes per year to Indonesia.

Hartarto said: "Today marks a significant milestone for both CFLD International (Indonesia) as well as Indonesia's industry. KNIC as one of the industrial zones plays a strategic role in encouraging industrial growth in this region. Moreover, this region is directed toward Industrial Estates 4.0. With the development of fairly progressive tenants, we believe this region is able to create many high value jobs and attract investment, thus creating a multiplier effect that drives economic growth in Karawang and its surroundings. We hope that KNIC will increasingly improve their services to industrial companies and support the improvement of the quality of competent industrial human resources."

Kamil said: "The development of KNIC in Karawang further underscores West Java's position as one of the key industrial hubs of Indonesia. As the 25th industrial zone in West Java, KNIC will create gainful employment and facilitate knowledge-sharing for our community and further stimulate the local economy. This will also naturally bolster investor confidence in our region and Indonesia. We look forward to working with CFLD International and its partners in KNIC to catalyze the nation's push toward Industrial Estates 4.0."

Zhao Hongjing, spokesperson of CFLD International, said: "We are very pleased with the project progress and with the momentum of new customers at Karawang. The strong, positive response to our New Industry Cities, both here and elsewhere by our stakeholders speaks to the differentiated business model at CFLD and our ability to deliver win-win outcomes for all. Through our unique integration of work-live-play with the express focus on developing industry, companies can optimize operational efficiencies and business growth. At the same time, this will catalyze the local economy and benefit communities."

Yu Ruisheng, chairman of Qingdao Ruiyuan Engineering Group, said: "Karawang New Industry City sits at an advantageous location with well-rounded infrastructure. As the leading New Industry City operator, CFLD has been committed to the investment, development, construction and operation of New Industry Cities for 20 years, and it's achievements over the 20 years are truly remarkable. We are honored to work with CFLD International to jointly develop this industry park."

KNIC is one of the projects currently being undertaken by CFLD International, along with Tangerang New Industry City, also in Indonesia, and Nhon Trach New Industry City in Vietnam. CFLD International is the international arm of CFLD, which has a strong track record of NIC development and operation. As the end of 2018, CFLD's projects in more than 80 regions have attracted over 2,000 enterprises, generated 105,000 new jobs, contributed $23.7 billion in GDP, and attracted cumulative investments of $76.5 billion.

Karawang is at the heart of the Jakarta-Bandung economic corridor that connects two major cities in one of the world's fastest growing economies. It is served by all major transport nodes and has been a preferred location for global manufacturers, as well as one of the government's prioritized regions for strategic infrastructure development. More than 10,000 companies and manufacturers, including eight of the top 10 consumer electronics companies and five of the top 10 fast-moving consumer goods (FMCG) companies in the world, operate in Karawang.