Prabowo's state visits unlock USD18.5 billion in investment promises

Jakarta (ANTARA) - Indonesian President Prabowo Subianto managed to bag a total investment commitment of USD18.5 billion from his visit to several countries on November 8-21, 2024.

"This is a bit higher than the target. I came home with a total commitment of USD18.5 billion. I think this is quite good," he stated in England on Thursday local time, as followed from a broadcast from the Presidential Secretariat on Friday.

According to the president, this achievement has shown global trust in the promising economic stability in Indonesia.



In response to this, Prabowo is committed to creating a corruption-free investment ecosystem in Indonesia.

One of the investments secured is the British Petroleum (BP) commitment worth US$7 billion for a gas field development project in West Papua called the Tangguh Ubadari, CCUS, and Compression (UCC) project.

The project includes the development of the Ubadari gas field in Fakfak District, West Papua, and the application of carbon capture, utilization, and storage (CCUS) technology to increase gas production at the Tangguh LNG facility in the local area.

Finance Minister Sri Mulyani, who accompanied the president, highlighted that his success in bringing investment commitments cannot be separated from the role of diplomacy to several countries and international meeting forums.

During the first month of his leadership, Mulyani said Prabowo held a series of bilateral meetings with world leaders in Beijing, participated in the APEC and G20 forums, and most recently, visited the UK.

"The president has exceeded the investment target. Most importantly, he had met with several leaders in several forums and meetings," she remarked.

Mulyani affirmed that on every occasion, the president consistently conveyed the vision and priorities of the government, which were reflected in his speeches after his inauguration.

According to the minister, the president emphasized his commitment to opening Indonesia to business opportunities while also addressing problems, such as inefficiency and corruption, and creating a conducive environment for investment.

She concluded that the main objective of this policy is to create more jobs, eradicate poverty, and reduce unemployment, which are the main priorities for the current government.