Chandra Asri Group Global Partnership Strategy Achieves Attention In Indonesia Incorporated Day 2024

Photo: Doc. Chandra Asri Group

JAKARTA - Chandra Asri Goup, a chemical and infrastructure solution company in Indonesia, was selected to participate in the Indonesia Incorporated Day 2024, organized by the Indonesian Ministry of Foreign Affairs on Saturday, January 27, 2024. This event was sponsored by Bank Negara Indonesia (BNI) and held in Nusa Dua, Bali.

The event was attended by the Deputy Minister of Foreign Affairs of Indonesia, Pahala Mansury, as well as officials from the Ministry of State-Owned Enterprises (BUMN), related SOEs, Indonesian ambassadors, and selected private sector entities. Chandra Asri Group was chosen as one of the representatives of the private sector, and had the opportunity to share the "Go Global" strategy collaborated with SOEs, to create value for businesses and all stakeholders, including for countries and Indonesian diaspora abroad.

Andre Khor, Chief Financial Officer (CFO) of Chandra Asri Group, shared Chandra Asri Group's aspirations to become a Growth Partner for Indonesia and expressed the Group's strong commitment to contributing to the country's efforts to create Downstream and Economic Diplomacy values. Andre explained that the company has succeeded in attracting Foreign Direct Investment (FDI) in partnerships with many world-class companies from abroad, and is currently diversifying its business both domestically and internationally, in accordance with its core capabilities.

Andre added further that Chandra Asri Group is also committed to completing its organic growth strategy in the chemical sector by establishing a world-scale Chlor Alkali and Ethylene Dichloride (CA-EDC Factory) Factory, along with related core infrastructure investments. The development of the CA-EDC Factory targets the concept of a Public-Private Partnership (PPP) to meet local and regional needs in Indonesia and the Southeast Asia region.

This investment will reduce Indonesia's imports and expand its exports, to support nickel and alumina refining, which is the basis for battery production for the electric vehicle industry, which is a core part of the solution for the global energy transition.

For Chandra Asri Group, the implementation of the Public-Private Partnership on an international scale is expected to be able to bring multiple benefits to the country, through the development of an ecosystem that is central to leading global companies as well as strong partnerships and the creation of joint solutions. With PPP investment in strategic assets abroad, Indonesia also has the potential to secure energy supply and reduce dependence on foreign entities.

The Ministry of Energy and Mineral Resources noted that in 2022 Indonesia imports up to 60 percent of fuel needs and 80 percent of chemicals. This growth and expansion will also provide more opportunities for the Indonesian diaspora which reaches 8.8 million people.

Indonesia Incorporated Day is expected to formulate strategic action plans for priority sectors and strengthen cooperation between the Ministry of Foreign Affairs, Ministry of State-Owned Enterprises, related SOEs, and the private sector in implementing the SOE Go Global initiative. In addition to discussing the role of Indonesian SOEs, this event also functions as a platform to explore the potential utilization and empowerment of Indonesian diaspora, which is an important asset for Indonesia's Economic Diplomacy efforts.