Australian CEOs urged to support electric battery industry development

Australian CEOs urged to support electric battery industry development

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Badung, Bali (ANTARA) – Investment Minister Bahlil Lahadalia has invited the chief executive officers (CEOs) of Australian companies to collaborate on downstreaming and renewable energy to support the development of the electric battery industry ecosystem in Indonesia.

The invitation was delivered by Lahadalia, who is also the head of the Investment Coordinating Board (BKPM), in a meeting in Nusa Dua, Bali, on Sunday. At the meeting, he said that Indonesia and Australia have similar strengths in the mining sector.

Specifically, Indonesia and Australia are among the world’s largest producers of several commodities, such as nickel, he informed in a statement issued on Wednesday.

Australia can help develop the electric vehicle industry ecosystem in Indonesia considering that the archipelagic nation is the largest lithium producer in the world, he said.

“Indonesia has a large market in the electric vehicle industry with major global players already investing in the country, such as LG, Foxconn, CATL,” he noted.

“This is a major opportunity that can be explored between Indonesia and Australia with mutually beneficial concept to improve the two countries’ economy,” he added.

Indonesia is currently focusing on the downstreaming industry so that it does not require investment in the mining sector, Lahadalia stressed.

There are many investment opportunities in the infrastructure sector, specifically the development of the new capital (IKN) Nusantara in East Kalimantan, he informed.

During the meeting, New South Wales’ Senior Commissioner, Andrew Parker, noted that the lack of information concerning investment opportunities in Indonesia has posed a challenge to encouraging Australian investment in the country.

Australian businesspersons feel that there is a lack of information on investment projects ready to be offered in Indonesia, such as in the mining, infrastructure, and tourism sectors as well as the waste processing industry, he informed.

Based on the ministry’s records, investment realization from Australia in the third quarter of 2022 reached US$0.2 billion, placing it 10th among investors.

Australia’s investment realization in the period from 2017 until September 2022 was recorded at US$2.37 billion.

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