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Jokowi promises political stability ahead of 2024 general elections for Chinese investors

Tempo - October 17, 2023

Daniel A. Fajri, Jakarta – President Joko "Jokowi" Widodo ensured Chinese investors that investing in Indonesia is safe and secure, even ahead of the 2024 general elections.

"We have prepared incentives and maintain the social and political stability," Jokowi said while attending the Indonesia-China Business Forum on Monday, as quoted from the press release statement of the Presidential Palace Press Bureau. According to Jokowi, investors shall not worry about the elections since Indonesia has conducted five direct elections so far.

The president is currently embarking on a two-day visit to China. In addition to meeting with stakeholders, Jokowi is scheduled to meet Xi Jinping and attend the Belt and Road Forum.

Jokowi stated in his opening remarks that he appreciated the investors and Chinese companies. China is currently placed second as Indonesia's biggest contributor to forum direct investment. However, Jokowi did not provide details on the investment.

Indonesia is currently focusing on the downstream industry including commodities such as nickel, copper, and other minerals. Jokowi also mentioned potential for new renewable energy in Indonesia is estimated to reach 3,600 gigawatts.

The development of Nusantara State Capital or IKN was also brought up during the forum. Jokowi claimed that the fundamental infrastructure and governmental center will be done by next year.

"There are 21 domestic and foreign investors until the start of November and we will soon conduct groundbreaking with a total of US$2 billion," the press release wrote.

Source: https://en.tempo.co/read/1784892/jokowi-promises-political-stability-ahead-of-2024-general-elections-for-chinese-investor