Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia and Russia have the potential to collaborate in investment across various sectors, including technology, tourism, healthcare, and education. This was conveyed by Airlangga during the Plenary Session of the Russia-Indonesia Business Forum, which carried the theme “Russia-Indonesia Strategy of Partnership,” on Tuesday, April 15. 

“This meeting is expected to result in preliminary agreements that leverage the strengths of both countries and pave the way for tangible investments in renewable energy, technology, and manufacturing,” said. 

The forum brought together more than 30 Russian companies, including producers of digital solutions, food products, specialized equipment, and various other industrial sectors. It was organized by the Roscongress Foundation under the umbrella of Roscongress International and the Indonesian Chamber of Commerce and Industry (Kadin). 

“Cooperation between Kadin Indonesia and the Roscongress Foundation is key to delivering real solutions that align with the needs of businesses in both countries,” Airlangga added. 

He explained that Special Economic Zones (SEZs) serve as a vital instrument for attracting investment and bolstering the national economy. Currently, there are 25 SEZs spread across Indonesia, from Aceh to Papua, comprising 13 industrial SEZs, 8 tourism SEZs, 3 digital SEZs, and 1 aero technic SEZ. 

According to Airlangga, with the provision of various facilities and special incentives, SEZs are expected to become investment magnets and foster new economic growth centers throughout the country. One of the government’s main strategies for driving economic growth is industrial downstreaming, particularly in key sectors such as nickel, copper, bauxite, palm oil, and petrochemicals. 

This downstream policy aims to create greater domestic value addition, enhance global competitiveness, and reduce dependency on raw material exports. In addition to strengthening the real sector, the Indonesian government also places digital transformation as a primary driver of future economic growth. 

Minister Airlangga noted that Indonesia’s digital economy is projected to grow to nearly USD 1 trillion by 2030. With progressive regulations under the Digital Economy Framework Agreement (DEFA), ASEAN’s digital economy contribution is projected to double, reaching up to USD 2 trillion. 

Meanwhile, First Deputy Prime Minister of the Russian Federation Denis Manturov expressed Russia’s interest in cooperating with Indonesia in strategic sectors such as agriculture and energy. 

“To support the continuity of this collaboration, a free trade agreement between Indonesia and the Eurasian Economic Union (EAEU) is expected to be realized and signed within this year,” said DPM Manturov. 

This article is published in partnership with Katadata 

Original article here