Chinese private company vows to develop Indonesian talents

China's largest private equity firm China Minsheng Investment (CMI) will invest tens of million dollars to develop local talents in support of the Indonesia's growth, the company announced on Monday.

CMI's Chairman of the Board Dong Wenbiao said after visiting Indonesian Chamber of Commerce and Industry (Kadin), the country' s semi-official organization, that "the belt and road" fund totaled 100 million yuan (some 16 million U.S. dollars) will be invested in 10 years to continually add more senior management and technical personnel for Indonesia.

Incorporated in Shanghai in May 2014 with a paid-in capital of 50 billion yuan, CMI put forward a plan earlier this year to lead a group of Chinese private companies to invest 5 billion dollars in creating an industrial park in Indonesia.

The park will bring in a wide array of industries and sectors including coal, chemical, electrolytic aluminium, iron and steel, power plant, cement, port, and even aircraft manufacturing.

Dong said as one of the supporting measures for the Industrial Park, the program is expected to promote the implementation of China's "Belt and Road" initiative.

According to the company, CMI will set up training centers for Indonesian technicians as well as send personnel aboard for management training.

Kadin president Suryo Bambang Sulisto welcomed CMI's program, saying as a populous country, the first challenge in Indonesia's economic development and growth is the shortage of professionals. "Kadin will fully support CMI's talent development initiative for Indonesia," he added.