The real crisis in China's manufacturing industry is coming

The Indonesian government has confirmed that seven companies plan to move production lines from China to Indonesia

Companies planning to relocate include industrial conglomerates in South Korea LG electronics and Japanese electronics maker Panasonic. Among them, LG Electronics plans to build Indonesia into the company's regional center to expand markets in Asia and Australia. Panasonic moved the plant to prepare Indonesia as a Panasonic home appliance export base.

 Other companies that have confirmed the move include japan's rubber maker phasor, u.s. light-duty makers Alpan、 japan's auto parts maker, and two companies from Taiwan, china —— sound equipment maker meron and tire maker jianda. According to the commission's data, the factories of seven companies are expected to bring $850 million in investment and jobs for 30,000 workers in Indonesia.

 "I have ordered the prime minister and ministers to provide the best services for industries moving from China to Indonesia," Indonesian President Joko Widodo said on Tuesday during a visit to the Patang Industrial Park in central Java, according to a report in the Jakarta Post. If there are any difficulties in the approval process, I have ordered the head of the investment coordinating committee to follow through from beginning to end so that investors will feel taken care of ."

 Vidor also highlighted land issues in the country, promising to optimize the approval process for investors to purchase land.

 It is reported that due to the spread of the epidemic on the country's economy, the scale of foreign direct investment in Indonesia in the first quarter of this year fell from 9.2 percent to $6.8 billion.

 The government also said 17 other companies want to open factories in Indonesia, which could bring $37 billion in investment and provide jobs to 112,000 people. However, Indonesia has not published a list of these companies.

 CNMOULDING also to many international famous large companies supporting the production of plastic mold and injection molded products. A big company is surrounded by a lot of small companies, relying on big companies to survive. Once the big company moves, the small company ends up closing. So the form is really bad for us.