Russian investment in Indonesia reaches US$147.2 million, Minister of Industry encourages other cooperation

JAKARTA - The Ministry of Industry (Kemenperin) recorded that as of September 2025, Russian investment in Indonesia has reached 147.2 million US dollars. Meanwhile, in the 2024 period, the total investment from the country reached 262.7 million US dollars.

"These figures show a high level of confidence from Russian industry players in the economic stability and potential for industrial development in Indonesia," said Minister of Industry (Menperin) Agus Gumiwang Kartasasmita in a written statement, Friday, December 12.

Agus said that so far the development of economic cooperation between the two countries has been very positive. In 2024, total non-oil and gas bilateral trade reached 3.9 billion US dollars, with an increase of 18.69 percent since 2020.

Until October 2025, the value of trade between the two countries has increased to 4.04 billion US dollars.

Indonesia and Russia, continued the Minister of Industry, are exploring the completion of two important documents of industrial cooperation. The documents include a Memorandum of Understanding on Cooperation in the Field of Shipbuilding and a Memorandum of Understanding on Cooperation in the Field of Scientific Research on the Safe Use of Chrysotile Asbestos.

One of the MoUs, namely the research on the safety of the use of chrysotile asbestos, was signed by Minister of Industry Agus with the Minister of Industry and Trade of the Russian Federation Anton Alikhanov in Moscow, December 8, 2025.

"We hope that other MoUs can be completed soon, so that it provides clarity on the collaboration framework for the large industries and SMEs of both countries," he said.

He also emphasized Indonesia's full support for the acceleration of the completion and signing of the Indonesia-Eurasian Economic Union Free Trade Agreement (IEAEU FTA).

According to Agus, the agreement will open wider market access for Indonesian industrial players through increased tariff competitiveness and reduction of non-tariff barriers.

"We hope that this agreement can be signed soon and become an important instrument to strengthen supply chain resilience and expand the penetration of national industrial products in the Eurasian region," he said.

In the context of multilateral cooperation, Indonesia also expressed its strong commitment to supporting programs under the auspices of BRICS. One of the important focuses is Indonesia's participation in the BRICS Centre for Industrial Competences (BCIC).

The cooperation will focus on the development of various sectors, such as industrial digitization, new mobility technology, unmanned transportation, human resource development for industry, empowerment of small and medium industries (IKM), digital transformation, artificial intelligence and bioindustry.

"We assess that BCIC is a strategic platform for technology transfer and acceleration of the modernization of the national industry towards an intelligent, green and inclusive industry," he said.

Agus also highlighted Indonesia's readiness to appear as a Partner Country at the Innoprom 2026 event, the largest industrial exhibition which will take place on July 6-9, 2026 in Russia.

The former Social Minister assessed that Indonesia's participation in the exhibition was a strategic opportunity to introduce the strength of the national manufacturing industry to the Russian and global markets.

"We ask for the support of the Russian Government so that Indonesia's involvement as a Partner Country can run optimally. Innoprom 2026 will be an important momentum to bring together industry players from both countries and create new collaboration opportunities," he concluded.