Wahyu Dwi Anggoro
IDXChannel - United States (US) Ambassador to Indonesia Sung Y Kim attended the annual US-Indonesia Investment Summit.
Held in Jakarta on Tuesday (24/10/2023), the event was organized by AmCham Indonesia and the US Chamber of Commerce.
"In the last few years, we have made so much progress, and this forum, could not have come at a better time. 2024 will mark the 75th anniversary of US-Indonesia diplomatic relations and be an opportunity to both highlight our past achievements and to look forward to the next 75 years of US-Indonesia ties," he stated in his opening speech.
"Our relationship has undergone significant growth across a range of areas during President Jokowi’s administration and during my three-year tenure as US Ambassador," he added.
The US cyrrently is Indonesia’s fifth-largest investor and now stands as Indonesia’s second-largest export market.
"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.
"The United States and the International Partners Group view our financial support under the JETP as a down payment on Indonesia’s transition, particularly as Indonesia establishes its path through the Comprehensive Investment and Policy Plan (CIPP) to enhance the enabling environment to attract private investment at scale to support the transition," he said. (WHY)
