China-Indonesia Medical & Biotech Investment Forum Successfully Held in Jakarta: A Strategic Step for Chinese Healthcare Enterprises Entering Southeast Asia

January 29, 2024, Jakarta, with a temperature of 30°C, during Indonesia’s (hereinafter referred to as “Indonesia”) “winter.”

A China-Vaccines, BiologicsMedicinePharmaceuticals, HealthcareInstrument、IVD, ProfessionalService、Digital healthcare, investment institutions, etc.HealthcareFieldAn event co-organized by the Indonesian Ministry of Health (MOH), the Indonesian National Agency of Drug and Food Control (BPOM), and Legend Capital, with the participation of nearly 40 renowned enterprises and approximately 40 companies from Indonesia’s healthcare sector, is currently in full swing at the Shangri-La Hotel in Jakarta.China-Indonesia Healthcare and Biotechnology Investment Forum, with over 100 attendees. VCBeat was invited to participate and provided on-site coverage.

On July 27, 2023, on the eve of the opening of the Chengdu Universiade, Indonesian Minister of Health Budi Gunadi Sadikin accompanied Indonesian President Joko Widodo on a visit to China. The China-Indonesia Medical Health and Biotechnology Investment Forum, jointly hosted by the Indonesian Embassy in China and the Indonesian Chamber of Commerce and Industry China Committee, and organized by Legend Capital and the China-Indonesia Chamber of Commerce, was successfully held at the Shangri-La Hotel in Chengdu. Attendees jointly explored the directions and opportunities for the development of medical health and biotechnology in China and Indonesia.

After six months, at the warm invitation of the Indonesian Ministry of Health and the National Agency of Drug and Food Control (BPOM), and under the guidance of the Chinese Embassy in Indonesia and with the support of Legend Capital,BeiGene, Better Pharmaceutical, CanSino Biologics,CSPC Pharmaceutical Group,Lingfu Biotech, Recombio, Sinovac, Tigermedand other biotechnology companies,Born Dental, Gerui Medical, Jinshi Medicine, Lepu Medical, MicroTech Medical, Haihe Biologics, PINS Medical,PureCert,Raylab Medical, Sansure Biotech, United Imaging Healthcare, Weigaoand other medical device and technology service enterprises,LiangYiHui, Zhanlue Datadigital health companies, andInternational Finance Corporation (IFC), Temasek, Legend CapitalA Chinese delegation on healthcare and biotechnology, composed of institutions such as VCBeat, visited Indonesia and attended the forum to jointly explore the directions and opportunities for the development of healthcare and biotechnology in China and Indonesia.

This marks the second successful hosting of the China-Indonesia Medical Health and Biotechnology Investment Forum.

Ms. Lucia Rizka Andalucia, Head of the Indonesian National Agency of Drug and Food Control (BPOM)

Ms. Lucia Rizka Andalucia, Director of the Indonesian National Agency of Drug and Food Control (BPOM), and Mr. Wang Junfeng, Co-Chief Investment Officer of Legend CapitalDelivered opening remarks at the forum. Wang Junfeng summarized his expectations for advancing bilateral cooperation with Indonesia using three keywords: “Wider Range,” “Openness,” and “Win-Win.” He pointed out that future in-depth collaboration with Indonesia would span a broad spectrum, including but not limited to medical devices, innovative pharmaceuticals, clinical CRO services, and digital healthcare solutions. By further enhancing openness, Chinese-Indonesian joint ventures will be encouraged to expand their operations in Indonesia, thereby fostering a win-win outcome. It is anticipated that, through the concerted efforts of the Indonesian Ministry of Health, the Indonesian National Agency of Drug and Food Control (BPOM), healthcare enterprises, and investment institutions, more Chinese healthcare companies and investors will be attracted to invest and develop in Indonesia. This will integrate innovative technologies, advanced concepts, and Chinese experience with Indonesia’s national conditions, thereby promoting the development of Indonesia’s healthcare and public health sector.

Mr. Wang Junfeng, Co-Chief Investment Officer of Legend Capital

Mr. Budi Gunadi Sadikin, Minister of Health of IndonesiaDelivered a keynote address titled “Healthcare Policy and Planning in Indonesia” at the forum. The report systematically reviewed and discussed Indonesia’s overall healthcare landscape from multiple perspectives, including the current state of healthcare, the quality and distribution of medical resources, and universal health insurance coverage. It highlighted that Indonesia’s healthcare policy is undergoing transformation and proposed establishing a robust nationwide disease prevention and control surveillance network, enhancing primary healthcare services, training and cultivating professionals and industry workers, and leveraging funds from various sources to optimize resource allocation. Mr. Budi expressed his expectation that in-depth cooperation with Chinese healthcare enterprises would promote the transformation and upgrading of Indonesia’s healthcare system.

Mr. Budi Gunadi Sadikin, Minister of Health of Indonesia

Afterwards,Ms. Jona Widhagdo Putri, Special Advisor to the Minister for the Coordination of Maritime Affairs and Investment, and Deputy Secretary-General of the China-Indonesia High-Level Dialogue and Cooperation MechanismDelivered a thematic presentation on “Global Ocean Synergies and the Belt and Road Initiative,” emphasizing that, on the occasion of the 10th anniversary of the comprehensive strategic partnership between Indonesia and China, both countries will continue to work together in the spirit of mutual respect, mutual learning, and mutually beneficial cooperation. While the two nations have already established strong collaboration in photovoltaics and infrastructure, they seek to deepen cooperation in the biopharmaceuticals and medical device industries.

Ms. Jona Widhagdo Putri, Special Advisor to the Minister for Marine Affairs and Investment Coordination, and Deputy Secretary-General of the China-Indonesia High-Level Dialogue and Cooperation Mechanism 

Witnessed by the Indonesian Minister of Health and relevant government officials, Chinese healthcare companies signed agreements with their Indonesian partners.Chinese Companies Sansure Biotech and BeiGene Partner with Indonesian Firms Esora Medika and Etana, jointly signed a memorandum of cooperation to work together in promoting the coordinated development of the healthcare sectors in China and Indonesia.

Signing Ceremony

Director, Legend CapitalGeneral ManagerMr. Hong Tan“The Evolution of China’s Healthcare and Medical Sector”: A Review of the Development of Chinese Medical Enterprises Over the Past Two Decades, with a Focus on the Remarkable Performance of Chinese Biotech Firms in International Markets in 2023. The analysis highlights four key drivers—continuous expansion of healthcare coverage, regulatory review policies that encourage innovation, rapid growth of startups, and strong support from venture capital—which may offer valuable lessons for Indonesia’s healthcare industry.

Mr. Hong Tan, Managing Director of Legend Capital 

Mr. Dai Lizhong, Chairman & Founder of Sansure BiotechDelivering a keynote speech themed “Building a Community of Common Health for All—The Sansure Solution,” the speaker analyzed from multiple perspectives that “comprehensive health management” is inevitably the major global trend in health governance. The presentation shared Sansure Biotech’s solutions and practical experience in establishing such a community, emphasizing the company’s commitment to active collaboration with diverse stakeholders to jointly explore future development trends in the global molecular diagnostics industry and continuously promote the building of a Global Community of Common Health for All.

 Mr. Dai Lizhong, Chairman & Founder of Sansure Biotech

During the roundtable discussion,Legend CapitalExecutive DirectorMr. Qi FeiPresided over “Forward-Looking Collaboration Between China and Indonesia in the Pharmaceutical and Vaccine SectorsTopic: Chinese enterprises BeiGene, Tigermed, and CSPC Pharmaceutical Group, along with Indonesian companies Kimia Farma, Biotis Pharmaceuticals, and Kalbe Genexine Biologics (KGBio), participated in the discussion on this topic. They shared insights and engaged in discussions on the opportunities and challenges across various dimensions, including Indonesia’s drug regulatory system, GMP-compliant manufacturing, new drug development, pharmaceutical sales and marketing, and partner sourcing. Participants expressed their hope that Chinese healthcare enterprises will engage in broader and deeper cooperation with Indonesia, Southeast Asia, and even countries along the “Belt and Road” Initiative, thereby benefiting more nations and people.

“Forward-Looking China-Indonesia Cooperation in Pharmaceuticals and Vaccines” Roundtable

The second roundtable discussion was moderated by the Deputy Director of the Bureau of International Cooperation, Ministry of Health, IndonesiaBonanza TaihituHost, with the topic of “Unlocking the Potential of Medical Device and Diagnostic Collaboration in Indonesia”, Chinese enterprises Sansure Biotech and Weigao, along with Indonesian companies Nicosh Indo Medical, Labio Sistem Manufaktur, and Sinko Prima Alloy, as well as the International Finance Corporation (IFC), participated in the discussion on this topic. The participants shared insights and engaged in discussions on multiple issues, including the current status of medical devices and diagnostic products in Indonesia, R&D, manufacturing standards, regulation, and the establishment of partnerships. They pointed out that cross-border and cross-regional collaborations in both the pharmaceutical and medical device sectors face three major challenges: approval timelines, labor shortages, and logistics. There was a consensus that, through close international cooperation and by following China’s path of rapid development over the past two decades, Indonesia’s healthcare system would undergo rapid transformation and upgrading.

 “Unlocking the Potential of Medical Device and Diagnostic Collaboration in Indonesia” Roundtable

Furthermore, the Indonesian Ministry of Health and the Indonesian Food and Drug Authority have separately addressedRegulatory Frameworks for Drug and Medical Device Registration and Market Access OversightExpand to share. Subsequently, Chinese and Indonesian enterprises initiated an exchange session.Representatives from Chinese enterprises attending the conference expressed unanimously, and will actively expand into the Indonesian market, engage deeply with local partners, establish marketing centers or production bases, and make sustained long-term investments, with the aim of building Indonesia into a core strategic hub for Chinese enterprises expanding into Southeast Asia.Indonesian corporate representatives also look forward to attending the conference.Collaborating with Chinese enterprises possessing core technologies to serve nearly 280 million people in Indonesia. The subsequent agenda also included a two-day program of corporate visits and exchanges.

VCBeat will continue to focus on overseas expansion and international cooperation, with an upcoming event to be held in Beijing from May 7 to 10, 2024.The 8th VBEF Future Healthcare Ecosystem Expo，An estimated 15,000 attendees are expected, with more international partners invited to Beijing to build bridges for Chinese companies going global. Meanwhile, VCBeat is also actively preparingChinese Medical Enterprises Enter the 2024 Jakarta Exhibition in Indonesia, helping Chinese enterprises expand into the Southeast Asian market.

2024 marks the beginning of the second decade of the comprehensive strategic partnership between China and Indonesia, as well as the start of the second decade of the Belt and Road Initiative. Following Chengdu, with Jakarta as a new starting point for deepening strategic cooperation, the collaborative development between China and Indonesia in the healthcare sector will undoubtedly contribute to building a global community of health for all.