Indonesia and Japan have signed ten memoranda of understanding (MoUs) worth approximately USD 23.1 billion, or around IDR 392.7 trillion, on Monday, March 30, as both countries explore expanded investment cooperation. 

The agreements were signed during the Indonesia–Japan Business Forum held at the Imperial Hotel in Tokyo. President Prabowo Subianto attended the forum alongside Coordinating Minister for Economic Affairs Airlangga Hartarto and several cabinet members. 

Airlangga said the agreements mark a concrete step toward strengthening bilateral ties, not only between Indonesia and Japan but also across the Indo-Pacific region. 

“Indonesia believes the future of this partnership lies in working, innovating, and growing together to create shared prosperity, not only for both countries but also for the Indo-Pacific region,” Airlangga said in a statement on Tuesday, March 31. 

He added that cooperation between the two countries is expected to move beyond traditional economic relations toward jointly developing future-oriented solutions. 

The collaboration will focus on three key areas: energy transition and green growth, industrial transformation and downstreaming, and strengthening global supply chains. 

Prabowo Highlights Quality of Japanese Investment

At the same event, President Prabowo described Japanese investment as high quality, citing its discipline, technological strength, and long-term commitment. 

“Japan brings quality to its investments—discipline, technology, and long-term commitment. That is why Japanese investment is respected not only in Indonesia but around the world. I personally value this relationship highly,” he said. 

Japan is currently Indonesia’s fourth-largest export destination, with exports totaling USD 17.61 billion, equivalent to IDR 299.5 trillion (based on an exchange rate of IDR 17,010 per USD). 

It is also one of Indonesia’s key investors, ranking fifth with total investment of USD 3.13 billion, or IDR 53.23 trillion, primarily in the automotive and transportation equipment industries, as well as the chemical and pharmaceutical sectors. 

The government noted that Japan continues to play an important role in supporting large-scale infrastructure development through public-private partnerships and development assistance, particularly in transportation, ports, energy, and urban infrastructure. 

The forum was also attended by Presidential Special Envoy for Climate and Energy Hashim Djojohadikusumo, Minister of Investment and Downstreaming Rosan Roeslani, Japan’s Parliamentary Vice-Minister of Economy, Trade and Industry Komori Takuo, JETRO Chairman and CEO Norihiko Ishiguro, Indonesian Chamber of Commerce and Industry (Kadin) Chairman Anindya Bakrie, and representatives from Japan’s Ministry of Economy, Trade and Industry (METI), Keidanren, and JETRO. 

This article is published in partnership with Katadata   

Original article here