Indonesia Woos Electric Vehicle, ICT Investors at WEF

TheIndonesia.co - The Indonesian government has been actively wooing investors at the 2022 World Economic Forum (WEF) in Davos, Switzerland, by highlighting the country’s investment potential and holding economic discussions. Indonesia’s economy grew 5.01 percent in the first quarter of 2022 despite the uncertain global economic situation caused by the COVID-19 pandemic. 

"The government always provides support for investors so that every investment which enters Indonesia can become mutually beneficial," Industry Minister Agus Gumiwang Kartasasmita said in a statement received here on Tuesday, as reported by Antara News Agency.

During the same period, its manufacturing industry sector grew 5.47 percent. The improving performance of the manufacturing industry was supported by the industrial downstreaming policy implemented by the government, which raised the manufacturing value added (MVA).

"As the largest economy in Southeast Asia, Indonesia continues to increase its MVA," the minister said at the opening of the Indonesian Pavilion at WEF 2022 on May 23, 2022.

He also highlighted new investment opportunities for optimizing Indonesia’s natural resource potential for creating an electric vehicle ecosystem in the country, in line with the focus of the 2022 WEF on new and renewable energy as well as the agenda of Indonesia’s 2022 G20 presidency. The minister held several meetings with automotive companies, seeking their investment in the electric vehicle industry (EV) in Indonesia.

"We (the Indonesian government) are very confident that the investment in electric cars (manufacturing) in Indonesia will go well,” Kartasasmita said.

Furthermore, the minister also held a meeting with American semiconductor, software, and wireless technology provider, Qualcomm.

During his meeting with the company’s chief executive officer (CEO), Cristiano Amon, he outlined investment opportunities for accelerating digitalization in the automotive industry, which would encourage the involvement of small industries in the industrial chain.

In addition, the minister said that his ministry is currently developing an information and communication technology (ICT) industrial ecosystem and products, such as laptops and tablets. "Hence, we invite Qualcomm to take part in the (industrial) process," he remarked.

The Industry Ministry is also building the Indonesia Manufacturing Center, which will become a center for developing the latest Indonesian manufacturing technology, he informed. "Thus, through the meeting, we expect that Qualcomm can assist in the development of the center," he added.