President Prabowo invites Germany to invest in renewable energy to electric vehicles

Jakarta - President Prabowo Subianto invited Germany to invest in a number of strategic sectors in Indonesia, including energy transition to electric vehicles. This was conveyed by President Prabowo when receiving a state visit from German President Frank-Walter Steinmeier at the Merdeka Palace, Jakarta, Monday, June 15.

The invitation is in line with Indonesia's efforts to accelerate industrialization and strengthen cooperation between the two countries which have been established for 75 years. He then gave examples of a number of strategic sectors that have the potential to attract German investors, such as new and renewable energy (EBT), industrial downstream, semiconductors, and the electric vehicle industry, in line with Indonesia's efforts to expand the use of electric vehicles.

In addition, President Prabowo also invited Germany to be involved in the development of the supply chain of critical minerals and rare earth elements to support the development of domestic industries.

According to him, Indonesia needs to establish a close partnership with Germany because the country has a very strong economic role in Europe. On the same occasion, Steinmeier revealed that Germany has always considered Indonesia not only has a large market potential, but also a strong investment attraction. This is evidenced by the presence of a number of German companies that remain loyal to operate in Indonesia, such as Siemens and Daimler.

He continued, to strengthen German investment in Indonesia, Germany will continue to support the ratification process of the Comprehensive Economic Partnership Agreement between Indonesia and the European Union (IEU-CEPA).

The reason is that the agreement will open up new investment opportunities from Germany to Indonesia, as well as encourage more small and medium-sized companies from the country to invest in the country.