Remarks of President of the Republic of Indonesia at ASEAN-US Special Summit with Business Leaders, Washington DC, the United States of America, May 12, 2022

Your Excellency ASEAN Leaders,

All CEOs,

I’d like to thank Secretary of Commerce of the United States of America Secretary Gina Raimondo and Ambassador Ted Osius of the US-ASEAN Business Council for organizing this very important meeting today.

On behalf of the country coordinator, I am proud to say that ASEAN has successfully developed a region with a stable and peaceful economic growth. ASEAN’s GDP has now reached US$ 3.3 trillion; yet it must continue to work hard to have more access to global value chain to climb the ladder of progress.

As President of the G20, Indonesia is committed to ensuring that the G20 can work as a catalyst for global economic recovery, especially for the progress of developing countries. All of this requires a close partnership between the Government and the business community. I hope CEOs of major American companies can develop concrete cooperation in the G20 and with the ASEAN, particularly Indonesia.

Ladies and Gentlemen,

Home to 270 million people, the majority of whom are in working age, Indonesia continues to make breakthroughs and innovations to advance. With a large area and abundant natural resources, Indonesia is rich for supplying industrial raw materials and providing green energy.

As one of the world’s largest nickel ore producing countries, Indonesia has been growing rapidly in the iron and steel industry. It is currently the second largest stainless steel producer in the world. The transformation will be followed by mining sector, including copper and bauxite for aluminum, which are the backbone of new and renewable energy industry for lithium batteries and electric cars.

Indonesia is also enormously rich in green energy potential, including hydro power plants potential with 4,400 rivers in Indonesia. We are also rich in solar power plants, as well as geothermal power plants, with a potential of 29,000 megawatts for geothermal. We are committed to ensuring that production of essential goods will be sourced from environmentally friendly power plants and we are inviting American entrepreneurs to invest in our country.

Ladies and Gentlemen,

Indonesia is also committed to developing digital economy that is fair and beneficial for all. In Southeast Asia, the value of digital economy is predicted to reach US$ 330 billion by 2025, while in Indonesia digital economy is projected to grow 20 percent per year to reach US$ 146 billion by 2025.

Indonesia is currently home to 2,346 start-ups, the fifth country with the highest number of start-ups in the world, with two decacorns and eight unicorns. I look forward to the involvement of American businesses in developing digital infrastructure [in Indonesia], facilitating digital capacity-building, and supporting us in entering the global value chain through digitalization.

Distinguished Secretaries,

Your Excellencies ASEAN Leaders,

All CEOs,

I hope this meeting will serve as a momentum for the United States to return to the region through its companies with mutually beneficial cooperation. We are waiting for all of you in the ASEAN, particularly in Indonesia.

I thank you.

(RI/EP)