Ecosperity Week 2023
Excellency, Chairman Temasek Trust, Madam Ho Ching;
Excellency, Chairman Temasek Holdings, Mr. Lim Boon Heng;
Excellency, Executive Director and CEO (Temasek Holdings and Temasek International), Mr. Dilhan Pillay;
Ladies and Gentlemen.
I am glad to be here and on this beautiful day, I would like to take the opportunity to ask you, who will win (the) next year’s presidential election? Ah, wrong speech. I am sorry, I apologize for the wrong speech. Even, if I know that all of you are curious about it, I am sorry.
But seriously, our friends in Singapore know us so well that whoever will lead Indonesia will be focused on turning this magnificent country into the powerhouse and giant of Asia. So, everything will be fine, no need to worry. Your investment in Indonesia will continue to be safe and also, the continuity of Nusantara Capital City’s development. A world-class smart city surrounded by nature, a green city with 65 percent forest, the first carbon-neutral city in Indonesia which has world-class education and health facilities.
Nusantara will be a comfortable city to live in and to do business. I know, housing prices here (in Singapore) have risen very high, maybe living in Nusantara can become an option. Now, development is ongoing. Basic infrastructure and center of government will be finished next year, using (the) national budget. And, for the private sector, for (the) early phase, we have prepared 300 investment packages (with) (a) total value (of) US$2.6 billion in various fields: housing, transportation, energy, technology, and others.
Then, there is a question about (the) minimum population level. Do not worry, Indonesia has the world’s 4th largest population. It will not be difficult to populate a world-class city. Then, there is another question about incentives. Hmmm, easy lah. I was also a businessman. Do not worry. We have prepared fiscal incentives, tax holidays, non-collective value-added taxes, super deduction taxes, (and) import duties.
We have done everything, especially regarding (the) green energy and (the) green industry, we will facilitate it, as best as we can. Because we believe (that) economic success and sustainability must be worked on together. That is why, the first thing we have built in Nusantara is a botanical center, a nursery center, with a capacity of 16 million seeds per year in Rumpin and then 15 million seeds per year in Mentawir.
Indonesia is seriously committed in (the) energy transition. We have very big potential in new and renewable energy, nearly 434 thousand megawatts (434 gigawatts). From geothermal, wind, solar, biofuel, and hydro. Let me give you an example of hydro (energy) potential. We have 4,400 potential rivers, 128 of them are large rivers, for example, Kayan River in Kalimantan. That is a green energy source for the Green Industrial Park in North Kalimantan. There is a huge potential to produce green products from the green industry that currently serve as priorities in (the) sectors of industrial down-streaming, solar panel and battery, manufacturing industry, and electric vehicle manufacturing industry.
Ladies and Gentlemen,
What else are you waiting for? Edelman Trust Barometer has just published a survey of public confidence in conducting business in Indonesia is at a high level, second place after China. Once again, second place after China. And, amidst global uncertainty, Indonesia’s economy is growing consistently above 5 percent. Last year, 5 (percent), we grew 5.3 percent. In the first quarter of this year, we grew 5.03 percent. Inflation (rate) is maintained at a safe level in May (2023), 4 percent year-on-year. On May (2023), 4 percent year-on-year. The Balance of trade has been in surplus for 36 straight months. Last year, our trade surplus (achieved) US$54.5 billion. Social political stability has been stable.
So, now all (that) remain is for you, to jump on board and join with us. Together to become a multi-trillion-dollar economy. So, I suggest you, do not wait too long. Do not just sit and watch. This is a golden opportunity that is very captivating in Indonesia with all of you can be part of (it).