Remarks of President of the Republic of Indonesia After Meeting the Indonesia Chamber of Commerce in China (INACHAM) and a Number of Chinese Businesspeople at Shangri-La Hotel, Chengdu, People’s Republic of China (PRC), July 28, 2023

Good morning Ladies and Gentlemen,

Thank you for being here.

I know some of you have invested in Indonesia while some of you haven’t started the investment. Last night, I have talked to President Xi Jinping for an hour in a bilateral meeting and 2.5 hours during dinner. Indonesia and China have agreed to promote investment in Indonesia.

Last night, I also asked for a booster for investment in industrial areas located in North Kalimantan. Secondly, I also wanted cooperation and investment in the Nusantara Capital (IKN) to be encouraged. President Xi expressed his concern and confirmed that he will push in the same direction. Other than that, he will continue to give support to Indonesia.

Our priority for investment is in electric vehicle (EV) ecosystem development; that includes raw material, EV battery, and electric vehicle. I have noticed that the trend here is EV ecosystem development that is also our country’s aim. I predict our car production can exceed 1 million units, and 2.4 million for [EV] in 2035.

Second, regarding renewable energy, I would like to encourage Chinese investors to invest in this sector because Indonesia has new and renewable energy potential of over 434,000 megawatts. This enormous potential is coming from hydropower, solar power, tidal wave, wind power, geothermal. For geothermal alone, there will be 29,000 megawatts. I think this is such a great opportunity for our future green energy, green products [to generate premium product].

Third, related to the IKN. I also would like to deliver that the development of IKN’s Government Central Area had started last year. We hope the development can be carried on so it will be completed next year and we will move to the IKN.

We hope the private sector can start participating after that, be it in health and education sectors, as well as research and data center. Hopefully it can start this year. There are 34,000 hectares plot of land that are ready for investment in property, health sector, for example the land for hospital, education facility (university), and infrastructure project.

I know many of you have invested. Maybe you can tell your partner regarding obstacles and issues that you have faced as is. We are open for Chinese investors.

I think that concludes my remarks.

Thank you.

(RAS/MMB)