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US-Indonesia Investment Summit Held to Promote Stronger Economic Ties

Economics editor Wahyu Dwi Anggoro
25/10/2023 09:35 WIB
United States (US) Ambassador to Indonesia Sung Y Kim attended the annual US-Indonesia Investment Summit.
US-Indonesia Investment Summit Held to Promote Stronger Economic Ties. (Foto: State Dept/Budi Sudarmo)
US-Indonesia Investment Summit Held to Promote Stronger Economic Ties. (Foto: State Dept/Budi Sudarmo)

"These indicators signal a deepening economic partnership.  Under President Jokowi’s leadership, Indonesia has made important legislative reforms through the Omnibus Job Creation Law and the Omnibus Health Law to streamline regulatory processes and to attract foreign investment," the ambassador explained.

"Some of our most pivotal initiatives were launched within the past year.  The Indo-Pacific Economic Framework (IPEF) and the Just Energy Transition Partnership (JETP) which will be platforms of collaboration that have the ability to transform the economic and environmental landscape," he added.

IPEF is a first-of-its-kind regional economic framework that addresses critical priorities, such as supply chain resilience, trade facilitation, and clean energy transition.  With 60 percent of the world’s population, the Indo-Pacific region is projected to be the largest contributor to global growth over the next 30 years.  IPEF partners envision a more robust trade and investment environment that will spur economic growth, job creation, and innovation across the Indo-Pacific.

"Similarly, the Just Energy Transition Partnership (JETP) stands as another cornerstone of our collaborative efforts," he continued.

This landmark USD20 billion initiative is committed to assisting Indonesia in achieving its ambitious climate goals and transitioning towards clean, renewable energy sources.  

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