Remarks of President of the Republic of Indonesia at APEC CEO Summit in Moscone West, San Fransisco, the United States, November 16, 2023

Good morning, ladies and gentlemen, company leaders, CEOs.

We are aware that global economic situation is predicted to remain bleak, but that doesn’t imply a lack of opportunities. One of the significant opportunities lies in Indonesia. According to the IMF, Indonesia’s economy is expected to grow by 5 percent in 2023, and it is estimated to reach 5.1 percent in 2024. This indicates that investing in Indonesia is not only the right choice but a promising one.

Indonesia is rich in both natural and human resources, a demographic bonus, a large market, maintained economic stability, maintained political stability, and most importantly, a strong commitment to creating a conducive and competitive investment climate.

We have various priority sectors in the country. First, the industrial downstream sector. As the nation with the largest nickel reserves, Indonesia is actively developing an integrated electric vehicle ecosystem and our goal is to produce 600 thousand electric cars by 2030, and we’re set to kick off production next year. We’ve set up various incentives and facilities, and I’m hopeful that business people from APEC will actively engage in this sector.

Second, the energy transition sector. The future of the world lies in green energy to achieve a sustainable and environmentally friendly economy. Indonesia currently holds a new renewable energy (NRE) potential of 3,600 gigawatts and is concurrently developing a Green Industrial Park spanning 30,000 hectares. Developing the sector requires investment, knowledge, and cutting-edge technology to create added value while ensuring sustainable improvements in societal welfare.

Third, the development of Nusantara Capital (IKN). A forest and nature-based smart city with green areas of 70 percent and open green energy-based public transportation of 80 percent in various sectors, including infrastructure, transportation, technology, education, energy, finance, tourism, health, and housing.

Fourth, now is the perfect time to invest in Indonesia. And, I encourage you to seize this opportunity with a more aggressive and swift approach. Indonesia is your best partner for business, so visit Indonesia, invest in Indonesia, trade with Indonesia.

Thank you.

(RIF/MUR)