Indonesia identified cooperation projects worth US$32 billion through business matching activities carried out during the ASEAN-Indo-Pacific Forum (AIPF), held on September 5-6. As the organizer of the AIPF, which is the flagship event of the 43rd ASEAN Summit, Indonesia is also seeking cooperation for projects from other countries with a total value of US$810 million.
“Although those (cooperation projects) had not been able to be finalized at today’s meeting, we hope the business matching will be able to boost cooperation and real understanding of the investment needs expected by each country,” Vice Minister of Foreign Affairs Pahala Mansury said in a press conference about the AIPF in Jakarta on Wednesday (6 September 2023).
The business matching activities involved around 185 domestic and international investors, including PT Bank Mandiri Tbk, Bank Permata, Bank SBI Indonesia, Bank CCB Indonesia, PT Bank Jawa Barat, PT Astra Infrastruktur, PT Amman Mineral Tbk, Dian Swastatika Sentosa, AIIB, Standard Chartered, Sumitomo (SMBC), Commerzbank, ACWA (Saudi Arabia), EDF Energy (France), KEPCO (South Korea), IGNIS (Spain), China Railway Corporation, Sinohydro, China State Construction Engineering, Siemens (Germany), Inpex Geothermal (Japan), British Columbia (Canada) and Actis (the UK).
The business sectors promoted through the AIPF included the development of new and renewable energy, hydrogen, ammonia, alumina refinery, battery supply chains, toll road infrastructure, and ports.
Indonesia put more focus on cooperation with international partners for strategic projects in the fields of energy and oil and gas (five projects), toll-road (nine projects), ports (five projects), health (six projects), fertilizer (three projects), infrastructure (ten projects), tourism (nine projects) and electric vehicle battery ecosystem and supply chains (three projects).
According to Vice Minister of State-Owned Enterprises (SOEs) Rosan Roeslani, the sectors that attracted many investors’ interest are green energy and electric vehicle battery ecosystem.
“There were also many who wanted to participate in the digitalization sector because they could see that there is a lot of our people’s potential that has not been reached by formal financing,” he said. He mentioned that some of the largest SOEs in Indonesia, such as Pertamina, Pupuk Indonesia, PLN, Pelindo, Jasa Marga, MIND ID, and Injourney also participated in the AIPF.
Also participated The National Development Planning Agency (Bappenas), which could become a platform to support the acceleration of investment for several infrastructure projects such as Demak-Tuban, Tuban-Gresik, Tasikmalaya-Gedebage-Ciamis toll roads and the Jatiluhur Drinking Water Supply System.
ASEAN member states such as Brunei, Myanmar, Thailand, Malaysia, and the Philippines presented potential projects in the telecommunications and infrastructure sectors.
ASEAN state members’ leaders, namely President of the Philippines Ferdinand Marcos Jr., the Prime Minister of Singapore Lee Hsien Loong, the Head of Delegation of the Kingdom of Thailand Sarun Charoensuwan, the Prime Minister of Viet Nam Pham Minh Chinh, the Prime Minister of Lao PDR Sonexay Siphandone, the Sultan of Brunei Darussalam Hassanal Bolkiah, the Prime Minister of Cambodia Hun Manet, the Prime Minister of Malaysia Dato’ Seri Anwar Ibrahim, and the Prime Minister of Timor Leste Xanana Gusmao were also present.
Three world leaders were also present as keynote speakers in the leaders talk session, namely Japanese Prime Minister Fumio Kishida, Australian Prime Minister Anthony Albanese, and Canadian Prime Minister Justin Trudeau.
Mansury said that those world leaders emphasized that the priority going forward for the strategic partnership with ASEAN will focus on sustainable cooperation sectors, such as the development of clean energy, innovative and sustainable financing, and the development of green infrastructure.
Mansury said that those leaders emphasized that the priority going forward for the strategic partnership with ASEAN will focus on sustainable cooperation sectors, such as the development of clean energy, innovative and sustainable financing, and the development of green infrastructure.
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Ministry of Communication and Information, Indonesia