Month: December 2024

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Indonesia Exports Fish Worth IDR 76.8 Trillion, America and China the Most

The Ministry of Marine Affairs and Fisheries (KKP) reported that the value of fishery exports from January to October 2024 reached US$ 4.8 billion or IDR76.8 trillion (exchange rate of IDR16,000). This value increased compared to the same period last year of US$ 4.61 billion.

The Director General of Strengthening the Competitiveness of Marine and Fishery Products (PDSPKP) of the Ministry of Marine Affairs and Fisheries, Budi Sulistyo, is targeting that by the end of 2024, the value of Indonesian fishery exports will reach US$ 5 billion.

“Regarding the strengthening of the marketing of fishery products that we get in 2024, the performance of Indonesian fishery exports for the period January to October 2024 is currently recorded as of October at US$ 4.81 billion. This (has experienced) an increase in the same period. We hope that by the end of the year, until December, it will reach more than US$ 5 billion,” said Budi in the 2024 KKP Year-End Achievement Press Conference at the Mina Bahari IV Building, Central Jakarta, Monday (16/12/2024).

Furthermore, Budi explained that there are five largest destination countries, including the United States (US) with an export value of US$ 1.56 billion, China with an export value of US$ 0.99 billion, ASEAN with an export value of US$ 0.65 billion, Japan with an export value of US$ 0.49 billion, and the European Union of US$ 0.35 billion. The most exported fishery commodities are shrimp, tuna, skipjack tuna, squid, cuttlefish, octopus, crab, and seaweed.

“Commodities are dominated by shrimp, followed by skipjack tuna, squid, crab and seaweed,” explained Budi.

To boost fisheries exports next year, his party has compiled and analyzed market performance and marketing, especially for skipjack tuna and tilapia commodities. This analysis was conducted to see potential export destination countries. Based on the results of the analysis, the demand for US tuna is predicted to increase by 300 thousand tons with the form of frozen whole superior products. Then in the European Union, the demand for tuna is estimated to reach 889 thousand tons with the form of canned tuna as the superior product.

“Tuna in Japan is positioned (Indonesia as a tuna exporting country in Japan) number 4. While the demand in 2025 is predicted to be 249 thousand tons or an increase of 4%. Well, we should be able to capture the market from this potential increase. So is tilapia. We will convey this kind of information to business actors. This is to improve export performance in the future, and we will always improve our capabilities,” explained Budi.

December 16, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7689116/ri-ekspor-ikan-rp-76-8-t-paling-banyak-ke-as-china)

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Indonesia Partners with Japanese Companies to Boost Geothermal Energy Potential

Indonesia is increasingly serious about developing geothermal energy potential to support national energy independence. In the Indonesia-Japan energy forum in Bali, PLN Indonesia Power collaborated with a Japanese company, INPEX Geothermal, to accelerate the development of this underutilized green energy resource. The agreement is a real step by the government in achieving the energy transition target while reducing dependence on fossil fuels. This collaboration was marked by the signing of a memorandum of understanding between PLN Indonesia Power which was signed directly by the President Director of PLN Indonesia Power Edwin Nugraha Putra and the Director of INPEX Geothermal, Ltd Yasutoshi Seki.

Secretary General of the Ministry of Energy and Mineral Resources Dadan Kusdiana who opened IJEF 2024 and witnessed the signing of the memorandum of understanding between PLN Indonesia Power and INPEX Geothermal said that the New Prabowo-Gibran Government has launched eight main missions called “Asta Cita”, which is designed to achieve the vision of “Together Towards a Golden Indonesia 2045”. One of these missions is energy self-sufficiency.

“Strong bilateral cooperation between Indonesia and Japan in the energy and mineral sector offers a path to a sustainable and resilient energy future. In addition, Indonesia is also trying to achieve energy self-sufficiency by utilizing its abundant natural resources, we collaborate with technological expertise from Japan,” said Dadan in an official statement, Friday (6/12/2024).

Dadan continued, at several international events such as APEC and the G20 Summit, President Prabowo Subianto emphasized the importance of green energy independence, by replacing fossil fuels with renewable energy and the importance of cooperation in the energy transition. Indonesia’s green energy potential is also quite large, such as geothermal energy with a potential of 23 GW, this country has only utilized 11% of its capacity.

“Likewise, although the potential for solar energy exceeds 3,000 GW, its application is still a challenge. We also have hydropower potential, especially in Eastern Indonesia and very large bioenergy potential,” added Dadan.

Meanwhile, on the same occasion, the President Director of PLN Indonesia Power said that as a subholding generation company, PLN Indonesia Power has a major role in developing green energy to accelerate the energy transition and achieve the Net Zero Emission target by 2060. One of the breakthroughs made by the corporation is to collaborate with parties that have competence and experience such as INPEX Geothermal.

“INPEX Geothermal has quite a long experience in developing geothermal energy. With this collaboration, we can further improve our competence in developing geothermal energy,” said Edwin.

Indonesia’s efforts to reduce carbon emissions are also in line with the commitment of the Japanese Government. Deputy Commissioner for International Affairs of the Ministry of Economy, Trade and Industry (METI) Japan Masanori Tsuruda said that Prime Minister Shigeru Ishiba in October 2020 declared Japan’s Efforts to reduce greenhouse gas (GHG) emissions by 46 percent by 2030 and to zero by 2050.

“Japan will continue to strive hard in its challenge to meet the noble goal of reducing global emissions. To achieve the target of zero carbon emissions by 2050, Japan will accelerate the energy transition, reduce the use of fossil fuels and switch to new renewable energy. We will do this through various channels,” said Masanori.

December 6, 2024, detikFinance

(https://finance.detik.com/energi/d-7674582/ri-gandeng-perusahaan-jepang-genjot-potensi-energi-panas-bumi)

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Indonesia and Japan to Cooperate on Transportation Infrastructure

Minister of Transportation Dudy Purwagandhi met with the Japanese Ambassador to Indonesia Yasushi Masaki to discuss the continuation of cooperation between the two countries in the transportation sector. Japan itself has made significant contributions to transportation projects in Indonesia, such as the development of railway systems, human resource development and training programs, and the exchange of knowledge in the field of technology.

Dudy said that the cooperation between the Ministry of Transportation and the Japan Ministry of Land, Infrastructure, Transport and Tourism (MLIT) was strengthened through the signing of a Memorandum of Cooperation (MoC) in the transportation sector on January 19, 2024. He also said that this cooperation has become more intensive, especially in the development of the Jakarta MRT project, Patimban Port, and the Bekasi Proving Ground

“We hope to increase more intensive cooperation with Japan, especially in the development of the Jakarta MRT project, Patimban Port, and the Bekasi Proving Ground,” said Dudy in his statement, quoted Tuesday (3/12/2024).

Regarding the Jakarta MRT project, Dudy hopes that with the support of the Japanese Ambassador, the MRT project can run smoothly and according to plan, so that it can improve the connectivity of the Jabodetabek area.

“I hope that with the support of the Japanese Ambassador, the Jakarta MRT project can run smoothly and according to the targets that we have agreed upon together. In addition to the construction of the MRT, I also hope that the connectivity of the Jabodetabek area can be improved through the integration of the main line with feeder services,” he added.

In addition to a number of infrastructure project developments, Dudy also conveyed the potential for future cooperation between the two countries, such as in terms of developing human resources (HR) in transportation through internship program cooperation.

“Among them are student and teacher exchanges from schools or polytechnics under the Ministry of Transportation, or guest lecturer programs from Japanese experts in the field of transportation. This aims to provide international experience that can enrich their skills and insights in the field of transportation,” explained Dudy.

December 3, 2024, detikFinance

(https://finance.detik.com/infrastruktur/d-7668244/ri-jepang-bakal-kerja-sama-infrastruktur-transportasi)

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Indonesia and Canada Work on Critical Minerals and Energy Transition

Minister of Energy and Mineral Resources, Bahlil Lahadalia together with the Canadian government established bilateral cooperation through a Memorandum of Understanding (MoU) regarding critical minerals to the energy transition in Indonesia. The cooperation was carried out between Bahlil and the Minister of Export Promotion, International Trade, and Development of Canada Mary Ng.

The memorandum of understanding covers several programs, ranging from the implementation of environmental, social, and governance (ESG) standards, reducing greenhouse gas (GHG) emissions through clean technology, to strengthening trade and investment in the mining sector.

Bahlil said that the bilateral cooperation is expected to support energy transition projects in Indonesia and encourage economic growth in Indonesia and Canada. Furthermore, Bahlil said that the cooperation will also encourage the fulfillment of energy needs in Indonesia which are considered to continue to increase. This is also said to be in line with the projected growth in domestic electricity needs reaching 61 Giga Watts (GW).

“Our current electricity is 91 GW with economic growth below 6%. President Prabowo’s target for future economic growth is 8%, so we need an additional 61 GW to support that target,” Bahlil explained in the Energy Transition Roundtable (ETR) session, quoted from an official statement, Tuesday (3/12/2024).

In addition, cooperation between Indonesia and Canada is also considered in line with the energy transition program in Indonesia which is currently being drafted through the revision of the 2025-2033 Electricity Supply Business Plan.

“We designed the 2025-2033 Electricity Supply Business Plan with a target of 60% new renewable energy. We are committed to achieving net zero emissions by 2060, even pushing for it to be faster in 2050,” he added.

Bahlil also expressed his optimism about the potential for cooperation with Canada in the field of nuclear energy. Nuclear energy itself, said Bahlil, will begin to be implemented in Indonesia in 2032.

“We know that Canada is one of the leading countries in nuclear development. The House of Representatives has approved the use of nuclear power, and we are targeting the regulation to be completed in 2025. Its implementation will begin gradually in 2032,” said Bahlil. In addition, Bahlil also emphasized the importance of this cooperation to maintain a balance between advanced technology and affordable prices.

On the other hand, the Minister of Export Promotion, International Trade, and Development of Canada Mary Ng explained that through this bilateral collaboration, her party would support the sustainable energy transition in Indonesia.

Mary revealed that the Canadian government had actually prepared funds of up to 5.3 billion Canadian dollars (CA$) equivalent to IDR 60.14 trillion (assuming an exchange rate of IDR 11,348 per CA$) to support the world’s energy transition program, including one for Indonesia.

“Our commitment to supporting Indonesia’s fair and sustainable energy transition is substantial. This includes our global climate funding of CA$ 5.3 billion, including Indonesia over the past five years,” said Mary on the same occasion.

Mary said that the funding provided by the Canadian government was partly to support key projects with the Asian Development Bank, such as the Sarulla geothermal power plant in North Sumatra and wind and solar power plants in South Sulawesi and Lombok. Mary also said that Canada is proud to be a partner in the Just Energy Transition Partnership (JETP), which aims to mobilize public and private financing of up to US$ 20 billion to support Indonesia’s energy transition.

December 3, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/news/20241203122901-4-592960/ri-gandeng-kanada-garap-mineral-kritis-transisi-energi)

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Indonesia-Canada Finalize ICA-CEPA Trade Agreement

Indonesia and Canada have substantially completed the Comprehensive Economic Partnership Agreement (CEPA) trade agreement. This agreement is expected to increase bilateral trade between the two countries.

The signing of the declaration of completion of the CEPA negotiations between Indonesia and Canada was carried out by the Indonesian Minister of Trade (Mendag) Budi Santoso and the Canadian Minister of Export Promotion, International Trade, and Economic Development Mary Ng.

“Today marks two important events, namely the signing of a joint declaration on the completion of the Canada-Indonesia Comprehensive Partnership Agreement negotiations, and the start of Team Canada’s largest trade mission,” said Mary at a press conference in Senayan, Central Jakarta, Monday (2/12/2024).

“This important moment reflects the strong and broad relationship between Canada and Indonesia, which was strengthened by last month’s productive meeting between Prime Minister Justin Trudeau and President Prabowo Subianto. Their discussions highlighted shared priorities, particularly in addressing food and energy security, and encouraged collaboration that benefits both countries,” she said.

Mary then said that Canada is committed to providing technical assistance and capacity building to facilitate the implementation of CEPA in Indonesia.

“In this agreement there is a commitment of US$25 million over five years, and this really reflects our commitment and belief that your (Indonesia’s) success is our success,” he added.

Mary said that they were very pleased that the support and investment mechanism would be created to support the effective implementation of the special trade agreement in Indonesia.

“This support will really drive economic growth for all of our businesses of all sizes and really make trade work for everyone in our economy. So, we are very excited about that,” he added.

Indonesia itself is Canada’s 22nd largest trading partner worldwide and the third largest among Southeast Asian countries.

In 2023, two-way trade in goods between Canada and Indonesia was worth 5.1 billion Canadian dollars (IDR57.6 trillion), while Canadian exports of goods to Indonesia were worth 2.3 billion Canadian dollars (IDR25.9 trillion). This makes Indonesia Canada’s largest export market that year among ASEAN members.

December 2, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/news/20241202151947-4-592731/indonesia-kanada-rampungkan-perjanjian-dagang-ica-cepa-apa-untungnya)

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Indonesia in Talks with US and Russia for Nuclear Power Technology

Indonesia is in talks with the United States and Russia about acquiring technology to develop nuclear power plants, a deputy minister told Reuters on Friday.

Southeast Asia’s biggest economy is looking at operating nuclear power plants as early as 2036 to cut its dependence on fossil fuels, said Vivi Yulaswati, a deputy at the National Development Planning Ministry. The country is open to small modular reactors and conventional nuclear technology, she said in a video interview. When asked if orders had been placed, Vivi said it was too early for that to have happened. “We have to get a blessing from the president, and of course, we have to talk with international partners. I think, very long journey still,” she said.

Nuclear power plants have been controversial in Indonesia as the country is prone to earthquakes. Thirty countries, nine of which are in Asia, use nuclear power for electricity generation, data from energy think tank Ember shows.

Indonesia, a nation of over 275 million people, accounts for the lion’s share of increasing coal use for power generation in Southeast Asia. More than half of its current capacity is powered by coal and clean energy sources including hydropower account for less than 15 percent. The country, however, plans to offer international investors opportunities to build 75 gigawatts (GW) of renewable power over the next 15 years. But funding remains an issue.

Indonesia was promised US$20 billion as part of the G7’s Just Energy Transition Partnership (JETP) unveiled in 2022, but very little money has been disbursed and that slow progress has hampered its efforts to cut emissions. Vivi said JETP has so far approved grants for 33 decarbonization projects in Indonesia worth $217.8 million, including one that would increase the number of electric vehicles in Bali. Another six projects worth $78.4 million are currently under discussion, she said. Loans of up to $6.1 billion have been approved, mainly to upgrade the national grid and develop the renewable energy sector, she added.

The official said the interest rates for the loans have yet to be finalized. Rates on loans have been a contentious topic, with Indonesian officials blaming Western nations for not providing concessional funding under JETP. The JETP projects have yet to be implemented, she said, adding that funding will start next year which is when Indonesia’s next 5-year economic planning cycle will begin.

November 30, 2024, The Jakarta Post

(https://www.thejakartapost.com/business/2024/11/30/indonesia-in-talks-with-us-russia-for-nuclear-power-technology.html)

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Existing in Vietnam, Indonesian Cable Industry Ready to Penetrate Global Market

The Ministry of Industry is actively introducing the capabilities of the domestic industry at various international events. The goals include expanding market access, opening up opportunities for cooperation, and attracting investment. This effort, for example, is through facilitating six national wire and cable industries to participate in the 2024 Wire and Cable Show Vietnam exhibition in Hanoi, on November 20-22, 2024.

“This exhibition is an important event for Indonesia to promote the domestic wire and cable industry which already has a high Domestic Component Level (TKDN) so that it can open up opportunities for market access and involvement in the global supply chain,” said the Director of the Metal Industry, Directorate General of Metal, Machinery, Transportation Equipment and Electronics (ILMATE) of the Ministry of Industry, Rizky Aditya Wijaya in his official statement, written Wednesday (11/27/2024).

Based on records from the Indonesian Cable Manufacturers Association (Apkabel), the capabilities and capacity of the fiber optic cable industry in Indonesia are already qualified and have been able to produce all types of fiber optic cables from small to large sizes. Whether it is for indoor, air and ground use, or duct, as well as submarine cables.

Currently, the total production capacity of the fiber optic cable industry reaches 15 million ScKm (Kmfiber). All fiber optic cable processes including coloring, tubing, stranding, armoring, and sheathing or jacketing can be done 100 percent domestically. The Director of Metal Industry explained that the cable industry sector as one of the downstream products of copper is a sector that must continue to be developed to support copper downstreaming. This is in line with the Asta Cita of President Prabowo Subianto’s Government, one of the points of which is to continue downstreaming and industrialization to increase domestic added value.

The 2024 Vietnam Wire and Cable Show as one of the largest wire and cable industry exhibitions in Vietnam provides an exhibition space of almost 3,500 m2 and displays around 132 booths with 92 exhibitors. Wire and Cable Show Vietnam 2024 is a combination of industry business exhibition and forum, R&D, manufacturing design, application development, and global supply chain connectivity.

During the exhibition, Indonesian industries also obtained several potential buyers in Vietnam for several products, such as flame retardant cables, photovoltaic cables, and fiber optic cables. Indonesia’s participation in the Wire and Cable Show Vietnam 2024 is also expected to attract new consumers for domestic manufacturers, especially the cable industry, so as to expand market access and penetrate the global supply chain.

November 27, 2024, detikFinance(https://finance.detik.com/industri/d-7658574/eksis-di-vietnam-industri-kabel-ri-siap-tembus-pasar-global)

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British Oil Giant Signs IDR 56.5 Trillion Tangguh Project Contract

British Petroleum (BP) signed an Engineering, Procurement, Construction, and Installation (EPCI) onshore and offshore contract with two contractors worth US$ 3.6 billion or around IDR 56.5 trillion (exchange rate of IDR 15,700/US$). The first contractor is Saipem in a consortium with partner PT Meindo Elang Indah, and the second contractor is JGC Holdings Corporation, through its local subsidiary PT JGC Indonesia.

The contract signing was carried out today (26/11) by Procurement VP bp James Tehubijuluw, while the signatories from Saipem were Paolo Evangelista and Vincent Chan from Meindo. The signatories from JGC Indonesia were Soeryadi. Previously, the announcement of the final investment decision (FID) worth more than US$ 7 billion or around IDR 110 trillion for the Tangguh UCC Project was delivered by BP CEO Murray Auchincloss to President Prabowo Subianto in London on November 21, 2024.

The Indonesian government in meeting the increasing energy needs, achieving the national gas production target, and advancing decarbonization efforts to achieve national emission reduction goals. Djoko said that towards the end of 2024, the UCC Project had successfully achieved two important milestones in its development.

First. is the FID decision announced by BP management during a meeting with President Prabowo Subianto in London. Second, is the signing of the EPCI contract for onshore and offshore facilities. He asked BP to learn from the implementation of the Train 3 Project, so that BP must be proactive in addressing emerging problems and discussing them with SKK Migas to find efficient and effective solutions.

Meanwhile, Kathy Wu, BP regional president Asia Pacific, gas & low carbon energy said that the Tangguh Project has the potential to produce 3 trillion cubic feet of additional gas resources to meet the increasing energy needs in Indonesia and Asia, while supporting Indonesia’s decarbonization efforts through the reinjection of around 15 million tons of CO2 in the initial phase.

The Tangguh UCC (Ubadari, CCUS, Compression) project consists of the development of the Ubadari gas field, enhanced gas recovery through carbon capture, utilization and storage (CCUS), and onshore compression. This project also supports Indonesia’s decarbonization agenda by re-injecting around 15 million tons of CO₂ into the reservoir through one of the first CCUS technology applications developed on a large scale in Indonesia. It is projected to create around 6 thousand jobs during construction and provide a positive multiplier effect for the Papuan community. The Tangguh LNG workforce currently consists of 99% Indonesian citizens, 70% of whom are local Papuans.

November 26, 2024, detikFinance

(https://finance.detik.com/energi/d-7657807/raksasa-migas-inggris-teken-kontrak-proyek-tangguh-rp-56-5-triliun)

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Investment in Special Economic Zones Reaches IDR 242 Trillion

President Prabowo Subianto held a meeting to discuss Special Economic Zones (KEK). It was recorded that until the third quarter of 2024, KEK had attracted investment of IDR 242.5 trillion. This was conveyed by the Coordinating Minister for the Economy Airlangga Hartarto after the meeting. According to Airlangga, KEK has created 151,260 jobs with 394 companies.

“The Special Economic Zone (KEK) which aims to attract investment and also to increase exports, the total achievement so far has reached IDR 242.5 trillion, the employment of 151,260 people with 394 companies,” said Airlangga at the Presidential Palace Complex, Central Jakarta, Tuesday (11/25/2024).

Arlangga also reported that the investment value in KEK reached IDR 68.43 trillion until the third quarter of 2024. This achievement has succeeded in employing 34,199 people.

“The direction of the President (Prabowo) for these economic areas is to continue to be encouraged, continued and also processed so that investment can come in. Especially the investment that the President made yesterday on a visit abroad,” he said.

Thus, Airlangga emphasized that his party will accelerate the investment process for a number of investor projects, one of which is a data center.

In addition, he also reported news about the continuation of the National Strategic Project (PSN). Under Prabowo’s direction, Agus Harimurti Yudhoyono as Coordinating Minister for Infrastructure & Regional Development will complete the PSN which is targeted to be completed in 2024-2025.

“It is planned that 18 projects will be completed this year while 30 more will be completed in 2025. Of course, the President directed this program to be continued and later if there are other investments, they will be discussed in more detail,” said Airlangga.

November 26, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7658278/airlangga-lapor-prabowo-investasi-di-kek-tembus-rp-242-triliun)

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Results of President Prabowo’s Visit to 5 Countries  Bringing Trillions of Rupiah in Investment

Indonesian President Prabowo Subianto is currently visiting several countries, such as China, the United States, Peru, Brazil, England, and the United Arab Emirates (UAE). Prabowo’s overseas visit also resulted in several agreements in the economic sector. So, what are the results of Prabowo’s visit? The following is a list of the results of Prabowo’s visit to China, the US, and Peru.

  1. China

In China, Prabowo’s visit resulted in two quite important agreements, such as an investment worth US$ 10.07 billion or equivalent to IDR 157 trillion and Chinese financial assistance for the Free Nutritious Meals (MBG) program. The support is stated in an MoU entitled Food Supplementation and School Feeding Programme in Indonesia. However, the government did not specify how much funding China provided and the form of support.

Prabowo brought home an investment of US$ 10.07 billion or around IDR 160 trillion (assuming an exchange rate of IDR 15,900) from his visit to China. The investment is stated in a memorandum of understanding (MoU) between Indonesian and Chinese companies.

The cooperation was initiated by the Indonesian Chamber of Commerce and Industry (Kadin) and the China Committee (KIKT). The cooperation involves 20 companies from the two countries in the fields of manufacturing, health, downstreaming, food security, and finance.

2.  United States

In the US, Prabowo’s visit resulted in three important agreements, namely the US commitment to support Indonesian food security, Acceleration of clean energy transition through the Just Energy Transition Partnership (JETP), and development of the Mineral Supply Chain.

The US is committed to supporting Indonesian food security through sustainable agriculture. This commitment was agreed upon in Prabowo’s meeting with US President Joe Biden. Not only that, the US-RI are also committed to strengthening Indonesia’s food security through promoting sustainable management practices for fisheries and aquaculture, as well as increasing the effectiveness of management of Indonesia’s marine protected areas in line with applicable laws.

In addition, Prabowo’s visit to Uncle Sam’s country also resulted in a commitment from Indonesia and the US to expand collaboration to accelerate the clean energy transition, including through JETP. JETP is a promise from developed countries, aka the G7, to fund Indonesia’s energy transition. JETP funding of US$ 20 billion or equivalent to IDR 318 trillion was agreed upon at the G20 Summit in Bali in November 2022. Unfortunately, the funding was not in the form of a grant, but rather a loan, aka debt.

3.  Peru

The two countries are committed to finalizing the Comprehensive Economic Partnership Agreement (CEPA) within the next six months. Prabowo is optimistic that the agreement can be signed during the visit of Peruvian President Dina Boluarte to Indonesia with her delegation.

CEPA is a comprehensive economic cooperation agreement that not only regulates tariff reductions, but also concerns market access, capacity building and trade facilitation, and investment. The objectives of each arrangement are to eliminate tariffs and address non-tariff barriers, maintain market access and ensure conducive conditions for service providers, and protect and encourage investment.

4.  Brazil

Indonesian and Brazilian business actors have agreed to cooperate in various sectors worth US$ 2.8 billion or around IDR 44.4 trillion. Coordinating Minister for Economic Affairs, Airlangga Hartarto, said that the signing of the Memorandum of Understanding between Indonesian and Brazilian business actors was carried out at the Indonesia-Brazil Business Forum initiated by the Indonesian Chamber of Commerce and Industry, the Indonesian Ministry of Foreign Affairs, and the Indonesian Embassy in Brazil. The sectors included in the cooperation include the financial sector, digital technology, mining, energy, livestock, and the aerospace industry.

5.  England

In England, Prabowo managed to bring in US$ 8.5 billion or around IDR 135.15 trillion worth of investment. The investment commitment was stated by a number of British company leaders when they met Prabowo at the CEO Roundtable Forum in London. They intend to invest in several areas, such as energy transition, infrastructure, education, and health.

November 22, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/research/20241122141243-128-590351/hasil-kunjungan-prabowo-ke-5-negara-bawa-investasi-triliunan-rupiah)