During his keynote speech at the Indonesia-Australia Business Summit (IABS) 2024 in Melbourne, Australia, on Monday, May 13, 2024, Minister of Investment and Head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, emphasized Indonesia's commitment to advancing downstream industries. Bahlil highlighted the strong diplomatic relations between Indonesia and Australia, but acknowledged that investment cooperation has not yet reached its full potential. Over the past five years (2019-2024), Australian investment in Indonesia amounted to USD 1.96 billion. Bahlil proposed collaboration in developing the electric vehicle battery industry, noting that both countries possess nickel, with Indonesia also having cobalt and manganese, while Australia has lithium. This collaboration could strengthen bilateral relations and establish a new force in the electric vehicle battery industry.
Despite international opposition, Indonesia remains steadfast in this policy. Bahlil also assured that Indonesia's downstreaming efforts are environmentally conscious and invited investors to visit the eco-friendly Weda Bay industrial area in North Maluku. Indonesian Ambassador to Australia and Vanuatu, Siswo Pramono, noted that Australian investments in Indonesia have traditionally been in mining and tourism but are now expanding into energy, healthcare, education, utilities, chemicals, and property sectors. The IABS 2024, themed “Green Horizons and Golden Opportunities: Forging a Sustainable Future Together,” marks the summit's tenth anniversary as a premier forum for Indonesian and Australian businesses. Data from the Ministry of Investment/BKPM shows that Australian investment in Indonesia totaled USD 1.96 billion from 2019 to 2024. In 2023, Australia ranked as the 10th largest foreign investor in Indonesia, with investments amounting to USD 0.5 billion. In the first quarter of 2024, Australia remained in the 10th position, with investments totaling USD 172.3 million. The primary sectors for Australian investment are mining (65.4%), hotels and restaurants (7.6%), and other services (6.4%). Attendees of IABS 2024 included Deputy Governor of Bank Indonesia Doni P. Joewono, President Director of PT Bank HSBC Indonesia Francois De Maricourt, and General Manager for Investment at Austrade Peter Horn.
Source: https://www.emitennews.com/news/hilirisasi-bawa-ekspor-nikel-tahun-2022-naik-10-kali-lipat-dari-2017
