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Ahead of the 43rd ASEAN Summit, Indonesia Shows Commitment to Support the Development of the New and Renewable Energy Ecosystem

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Jakarta – Ahead of the 43rd ASEAN Summit at the Jakarta Convention Center (JCC) in September 2023, Indonesia has firmly shown its commitment to supporting the development of a new renewable energy ecosystem. This effort illustrates Indonesia’s strategic role in overcoming the challenges of climate change and increasing cooperation in the utilization of sustainable energy sources in Southeast Asia.

The Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia said that ASEAN members agreed on the importance of carrying out a formulation for the development of a new renewable energy ecosystem and reducing emissions through the electric vehicle (EV) ecosystem. Bahlil said this at the ASEAN Economic Ministers Meeting.

According to Bahlil, ASEAN is now the main destination for electric vehicle investment. Therefore, he assessed the importance of collaboration between ASEAN member countries in the development of this industrial ecosystem.

“ASEAN must continue to improve on its remarkable achievements in attracting green and sustainable investment,” said Bahlil.

In 2022, he continued, world investment related to electric vehicles in ASEAN would increase sharply by up to 570 percent or reach US$ 18 billion. However, ASEAN members need to formulate a joint formulation for the development of the electric vehicle ecosystem.

“The development of the electric car ecosystem is one of the most important parts. Because Indonesia, Malaysia, Vietnam, Thailand and almost all countries are developing EV ecosystems,” he said.

The 43rd ASEAN Summit is an important platform for discussing joint strategies in strengthening the sustainable energy sector. Delegations from ASEAN member countries are expected to exchange information and share best practices in promoting the use of renewable energy.

On the same occasion, Deputy Director General of the Foreign Investment Agency, Vietnam’s Ministry of Planning and Investment, Nguyen Anh Tuan, also revealed that there is a potential trend for ASEAN member countries to collaborate in developing investment. Especially Foreign Direct Investment (FDI) in the electric vehicle ecosystem sector.

“ASEAN members need effective solidarity and collaboration in developing potential sectors such as electric vehicles. The goal is to be able to positively contribute to sustainable development.” he said.

He believes ASEAN is capable of becoming a region that develops an electric vehicle ecosystem. Nguyen also agreed that to attract FDI and develop potential sectors such as electric vehicles, ASEAN member countries need to work together.

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