Remarks of President of the Republic of Indonesia during a Meeting with CEOs of Japanese Companies at Imperial Hotel, Tokyo, Japan, July 27, 2022

First of all, thank you for attending the CEO Meeting today. As previously stated by Minister of Investment, Japan is one of the largest investors in Indonesia and quality investment has always been the character of Japanese investment wherever it is located, including in Indonesia.

I really appreciate the quality of Japanese investments. However, I also hope that Japanese investors will consider their competitiveness so that they can compete with other investors in Indonesia. In short, good quality, competitive prices, that’s what we expect and I believe Indonesia is still one of the best investment places. As the fourth largest democracy in the world, our government system has a good check and balance mechanism. Indonesia’s domestic politics is also very stable and the post-pandemic economic growth is also good.

Last year, our economy grew by 3.69 percent and the Q1 of this year the economy grew by 5.01 percent (y-o-y). Inflation can also be maintained at 4.35 percent. Further, the fiscal deficit is also quite good, I think this year it will fall below 4. In addition, our foreign exchange reserves are also at US$135 billion. They can still be used for 6-7 months of import [financing].

Currently, investment is prioritized to establish a green economy including in energy transition. Currently, we are building a new capital. There are many investment opportunities, including infrastructure technology to build smart cities and others. We have also simplified investment policies through the Omnibus Law, the Job Creation Law so that all permits can be handled in a coordinated manner at the investment office.

CEOs, please ask for the Minister of Investment’s cell phone number, this is important. If there is a problem, please contact the Minister of Investment directly. If you cannot solve it with the Minister of Investment, please contact me.

Thank you.

(FI/MMB)