APEC CEO Summit Peru 2024, di Lima, Peru, 14 November 2024

Keynote Speech Presiden Prabowo Subianto pada APEC CEO Summit Peru 2024, 14 November 2024

His Excellency Mr. Fernando Zavala, Chairman of the APEC CEO Summit 2024 and former Prime Minister of Peru;
Distinguished Panelists;
Distinguished Delegates from Indonesia, all the Ministers attending;
I would like also to acknowledge the presence of many notable CEOs from Latin America and the Caribbean, and Distinguished Participants from the ASEAN Business Advisory Council;
Ladies and Gentlemen.

I’m very honored to be invited to address this distinguished body. As we all know that peace and prosperity are driven by economic activity, by the role of the business community, the role of entrepreneurs, the role of industry. Without the dynamic participation of the economic sector, basically, we cannot have growth and prosperity. Without growth, we cannot alleviate poverty, we cannot create relevant employment. Therefore, I am very happy and very honored to address you, the drivers of economic growth in the Pacific region.

The Pacific region, I think, is one of the most dynamic areas of the world. Economic growth, potential technological achievements, the demographics, the resources available in the Pacific and the Indo-Pacific regions all point to a bright economic future for all.

We have, at the present, geopolitical tension, but I am an optimist in the interests of humanity. I believe that the leaders of the great powers of the world in the final analysis will always opt for the common good.

Rivalry is historical, there will always be rivalry, but our planet has become smaller. We are now in a planet full of technological breakthroughs.

The tremendous breakthroughs and technology demand that leaders be more wise, be more patient, be more accommodating because the power of technology can bring significant progress to human life, but the power of technology can also destroy human life very fast. Therefore, I always choose the path of collaboration, engagement, communication, negotiation. Yes, we have to uphold and live by common laws, by international rules, but we must also have common understanding of everybody’s interest.

I come from a country now, Indonesia, one of the largest countries in the world, fourth largest population. Our territory from west to east is nearly the length of Europe. Europe has 27 countries or more, we are one country. We have our significant challenges, but we are blessed with abundant resources, significant territory: land and water.

We have the fortune of being able to, in a few years, be completely self-sufficient in energy, self-sufficient in green energy. We will be perhaps one of the few countries that can achieve 100 percent renewable energy within a few years. We can replace fossil fuel by renewables.

We have the largest geothermal potential. I think 60 percent of the world’s geothermal energy potential is in Indonesia.

We have a potential, of course, solar energy, but our main strength will come from bioenergy, from the plant-based fuel that we can produce. We will, I think together with Brazil and maybe with the Congo/DRC, we have the potential to produce fuel from plants. And this, I think, will create a lot of opportunities because we will save a lot on foreign exchange. The funds will circulate within our own economy.

We also are blessed with critical minerals and other vital resources for modern life. And also, I’ve been discussing with Peru, the Peruvian Government, I think we have complementary resources for the future. We have managed to have prudent economic and fiscal policies in the last years. We managed to maintain growth even after the COVID-19. Our growth now is about 5 percent, higher than the global average. Our inflation is at 2 percent.

We have challenges, we still have. I would say we still have poverty at the large scale, large level, which I’m determined to bring down, and we do have a significant percentage of our children malnourished. I’m also determined to address this problem head on.

Ladies and Gentlemen,
I am a firm believer in the role of private business. Before I entered government, I was also a businessman and [an] entrepreneur. So, I do understand, from both sides, the concerns, the challenges faced by private business.

I think private business wants a certainty of the legal system, private business wants a favorable economic climate, political climate, stability, security, and good conditions, favorable incentives, and these we are addressing. We have liberalized our laws, we open the health sector for foreign health companies, we are opening our education sector, we invite foreign universities to open campuses, we are inviting foreign hospitals to open their branches in Indonesia. We are going forward with more incentives, we have created several special economic zones, and we will create more of these special economic zones in order to invite the modern and advanced leading-edge technology, especially as the traditional economy.

For instance, we are very bullish on our maritime industry, fisheries. I think now three-quarters of our national territory is water. We have tremendous potential for, let us say, well-planned fishery program, aquafarming, and a lot of processing industries.

We are determined to industrialize by downstreaming our resources, processing our resources. We have 26 commodities which we are determined to have processing industries.

We calculate that we need investment of around US$600 billion, and we invite foreign participants to come in and take part in this, and many of the companies have been involved in our economy for many, many years. We are also pushing for more exploration of oil and gas, and other minerals.

Ladies and Gentlemen,
Indonesia is open for more business. I’m determined to protect all investments, to give favorable economic conditions, and to be involved in the major economic organizations of the world, and to work together with all of you to create mutual prosperity.

I believe that prosperity can only come from peace. Peace comes from understanding. Understanding comes from engagement and negotiation. So, I’m very happy to attend this APEC Summit to renew context, to introduce myself, to introduce my country, and to invite cooperation between all of you, the private sector of the Pacific Basin, the Pacific world, and together to achieve prosperity. Prosperity, in the end, I would say, guarantees peace and stability.

Ladies and Gentlemen,
I think that concludes my remarks, and once again thank you for inviting me, and I wish this APEC Summit, this APEC CEO Summit also to be very successful.

Thank you very much.