President Prabowo Subianto has declared Indonesia’s commitment to fostering greater openness in business relations, particularly with the domestic and international private sectors.
This commitment was emphasized during his speech at the Asia-Pacific Economic Cooperation (APEC) Summit held in Peru on November 14-15, 2024.
Indonesia Needs Major Investments from Global Investors
In a recent statement, Prabowo highlighted that Indonesia requires an investment of approximately $600 billion USD, equivalent to IDR 9.5 trillion (based on an exchange rate of IDR 15,687 per USD). This significant amount is earmarked for downstream processing of Indonesia’s natural resources, particularly for 26 commodities.
“We are committed to industrialization by advancing the downstream processing of our natural resources. We have 26 commodities that we are prioritizing for processing industries. Based on our calculations, we need an investment of around $600 billion USD,” Prabowo stated during a broadcast on the Presidential Secretariat’s YouTube channel on Friday, November 15, 2024.
Law Liberalization and Stability for investment
Prabowo highlighted his unique understanding of both government and private sector needs, given his background as an entrepreneur prior to his political career. He assured that foreign investments in Indonesia would be safeguarded, emphasizing the private sector’s need for certainty within a solid legal framework.
“We are offering attractive incentives, and this is part of our ongoing efforts. We have liberalized our laws to accommodate these changes,” Prabowo stated in a video shared on the Presidential Secretariat’s YouTube channel on November 15.
The private sector, he acknowledged, expects Indonesia to provide a stable economic, political, and security climate. Prabowo guaranteed these conditions under his leadership, promising a conducive environment for business and investment.
“Indonesia is open to more business and investment. I am committed to protecting all investments and creating an economic environment that is organized, free, fair, and advantageous,” he added.
Prabowo also invited global investors to explore various sectors in Indonesia, including building schools or universities in Indonesia and inviting foreign hospitals to establish branches in Indonesia.
“And we invite foreign investors to come and take part in this opportunity,” he added, encouraging investors, as quoted by Kompas.
Prabowo further noted that for many years, numerous global companies and foreign investors have been involved in Indonesia’s economy. He also encouraged greater exploration of oil and gas resources within the country, which could be carried out by foreign investors.
Meanwhile, several leading American companies expressed interest in investing in the energy sector during Prabowo’s meeting with them at the APEC Summit in Peru.
The President reaffirmed Indonesia’s dedication to participating in global economic organizations and fostering collaborations with other nations to achieve shared prosperity. He stressed that prosperity stems from peace, which is built through understanding, engagement, cooperation, and effective negotiation.
“I am delighted to attend this APEC Summit, not only to introduce myself but also to present Indonesia and promote cooperation among global private sectors. Together, we can achieve mutual prosperity,” Prabowo concluded.
At this APEC Summit, Prabowo held several bilateral meetings with other world leaders, discussing measures to strengthen trade relations, boost investments, and explore new mutually beneficial partnerships.
Prabowo described the APEC Summit as a platform for discussing economic issues and building networks among Pacific leaders.
Source: cnnindonesia.com, kompas.com
Image source: unsplash.com
