Hong Kong Tops Singapore as Indonesia's Second-Largest FDI Source at Belt and Road Forum
SingTao · 1 SOURCES1 day ago2 MIN
Summary
Hong Kong has emerged as Indonesia's second-largest foreign direct investor, surpassing Singapore for the first time, according to Indonesian government data cited at the Belt and Road Summit. Shinta Widjaja Kamdani, CEO of Sintesa Group and Chair of the Indonesian Employers Association, revealed that Hong Kong's FDI to Indonesia surged 404 percent from 2017 to 2025. New Hua Group Chairman Cai Guanshen announced plans to lead approximately 100 Hong Kong representatives to Almaty, Kazakhstan this month to explore Central Asian markets, advocating for Hong Kong to transition from a super connector to a super partner for outbound enterprises.
Key Points
- Indonesia's Sintesa Group CEO Shinta Widjaja Kamdani cited government data showing Hong Kong's FDI growth to Indonesia at 404 percent from 2017 to 2025, propelling it past Singapore as Indonesia's second-largest investor
- During the same period, China's trade with Indonesia expanded significantly with Indonesian exports to China rising 191 percent and Chinese exports to Indonesia increasing 140 percent
- Belt and Road investments have shifted from traditional infrastructure to downstream industries and domestic industrialization since 2021, including nickel processing, industrial parks, and manufacturing ecosystems
- New Hua Group Chairman Cai Guanshen will organize around 100 Hong Kong delegates to visit Almaty, Kazakhstan in September 2026 to help Hong Kong and mainland Chinese enterprises explore Central Asian markets
- New Hua Group is introducing Shenzhen-based companies specializing in AI, electric vehicles, drones, and robotics to Southeast Asia, establishing AI demonstration centers in Hanoi, Phnom Penh, and Vientiane
Why It Matters
The milestone positions Hong Kong as a major player in Southeast Asian investment flows beyond its traditional intermediary role. As Belt and Road enters its industry implementation phase, Hong Kong's evolution toward co-investing alongside enterprises—rather than merely connecting them—could reshape its economic value proposition in the region. The shift toward technology partnerships in AI, smart cities, and digital infrastructure also signals new avenues for Hong Kong's professional services sector amid regional competition.
The milestone positions Hong Kong as a major player in Southeast Asian investment flows beyond its traditional intermediary role. As Belt and Road enters its industry implementation phase, Hong Kong's evolution toward co-investing alongside enterprises—rather than merely connecting them—could reshape its economic value proposition in the region. The shift toward technology partnerships in AI, smart cities, and digital infrastructure also signals new avenues for Hong Kong's professional services sector amid regional competition.