After Meeting with Jokowi, Toyota to Invest Rp25 Trillion till 2019

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President Joko Widodo (Jokowi) has received the visit of Toyota Motor Corporation President Akio Toyoda at the Presidential Palace. The meeting was an effort to increase investment in Indonesia, committed by the Japanese car manufacturer.

The news was conveyed by Industry Minister Airlangga Hartarto in the Palace complex, Jakarta, on Monday (3/13).

In addition to investment, Airlangga said, Toyota Motor Corporation is also committed to support the government’s policy on vocational training.

“So they will hold 6-month internship as a support for the vocational training program. The investment is increased from Rp20 trillion to Rp25 trillion in the five years,” said Airlangga.

In addition, it was also discussed about the plan of the Japanese car manufacturer to develop electric cars.

“The president asked about the development of electric cars. If purely electric faces a lot of obstacles, perhaps hybrid cars to be developed. This will be given facilities in term of lower import duty and reduction in tax for luxurious goods, so that the people have the option of environmentally friendly vehicles,” he added.

Airlangga said the increased investment by Toyota Motor Corporation will be carried out until 2019. Up to now the investment has reached Rp18 trillion.

“So there will be Rp7 trillion more. The additional Rp5 trillion according to them to be used for research and development and other purposes in Indonesia,” he said.

In the meeting with Jokowi, Toyoda was accompanied by Toyota Senior Managing Officer Shigeru Hayakawa, President Director of PT Toyota-Astra Motor Hiroyuki Fukui and Vice President of Toyota-Astra Motor Henry Tanoto.