Sep 07, 2016

Taiwan: Business Opportunities Talks with Indonesian Delegation

An Indonesian delegation of businesspeople is in Taiwan to discuss industrial cooperation deals with the Ministry of Economic Affairs. This new development follows the establishment of trade agreements with Singapore, as part of Taiwan’s economic opening to Southeast Asia. The island nation’s role as an “economic powerhouse” and a major player in international trade has been acknowledged by the EU with calls for balanced relations with China.


The article below was published in Focus Taiwan:


A delegation of businesspeople from Indonesia is now [5 September] in Taiwan to explore opportunities for bilateral cooperation under Taiwan's "New Southbound Policy."

The delegation is being led by Ang Tjoen Ming, a business tycoon who was appointed in 2014 by Indonesia President Joko Widodo as his special envoy to Taiwan.

On Monday, Ming and his delegation attended a business conference and a forum in Taipei for enterprises in Taiwan and Indonesia, which was organized by Taiwan's Ministry of Economic Affairs.

The delegation is also expected to negotiate several cooperation deals, including agreements for the state-run Taiwan Sugar Corp. to build a factory in Indonesia and for an Indonesian enterprise to purchase a naphtha cracking plant owned by CPC Corp., Taiwan (中油), according to a source close to the delegation.

The initiatives are part of the "New Southbound Policy," which was introduced by Taiwan's Democratic Progressive Party (DPP) government after it took office in May, with the aim of enhancing trade and economic ties with countries in South Asia, Southeast Asia and the South Pacific.

The leader of the Indonesian delegation, who is also known as Dato Sri Tahir, is the founder of the Mayapada Group, a Jakarta-based business conglomerate.

In 2015, he was ranked by Forbes as Indonesia's 10th richest person, with an estimated net worth of US$2 billion.

The 64-year-old tycoon of Chinese descent was born in Surabaya and graduated from Nanyang University, Singapore, in 1976 with a bachelor's degree in business.

He is known for his business acumen and his influence in the Chinese community in Indonesia.

Bank Mayapada, which Ming founded in 1989, not only weathered the 1997 economic crisis but managed to expand aggressively after the crisis.

Currently, the Mayapada Group and its subsidiaries operate businesses that range from financial services, to the property, hospital, media and retail sectors. The group also owns and operates duty-free shops in Jakarta and Bali.