Minister Airlangga highlights investment in sustainable infrastructure at IPEF

With an investment target of Rp1.65 quadrillion (US$101 billion) in 2024, the Indonesian government is pushing for increased infrastructure investment and leveraging various regional cooperation opportunities in sustainable development, including participating in the Indo-Pacific Economic Framework for Prosperity Clean Economy Investor Forum (IPEF CEIF) 2024 held in Singapore on Jun. 5, 2024. This investor forum is part of the series of IPEF Ministerial Meetings taking place from June 5 to 6, 2024, in Singapore.

Opened with a speech by Singaporean Prime Minister Lawrence Wong, the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum (CEIF) 2024 agenda connects investors from around the world with sustainable projects in the Indo-Pacific region, focusing on projects supporting a clean economy and climate technology. This forum is expected to result in various investment agreements as tangible benefits of the IPEF cooperation.

In addition to warmly welcoming and congratulating all forum participants, Wong also emphasized the importance of the clean economy pillar to accelerate the development and adoption of environmentally friendly technologies. Investment in this sector will also support clean energy and sustainable infrastructure.

Delivering a keynote speech at the forum, United States (US) Secretary of Commerce Gina Raimondo announced that the US would provide US$25 billion to the Indo-Pacific region through investors attending the forum to seek investment opportunities. Secretary Gina Raimondo also expressed her support for various projects in several IPEF partner countries, including the construction of a data center in Indonesia.

At this forum, Coordinating Economic Minister Airlangga Hartarto served as a panelist opening the panel discussion themed Building Tomorrow: Sustainable Infrastructure Investment for A Resilient Future, alongside India's Commerce Secretary Shri Sunil Barthwal, Temasek Holdings & Temasek International Chief Executive Officer (CEO) Dilhan Pillay and KKR & Co. Co-CEO Joseph Bae.

"For Indonesia, the investment funding target needed for the Enhanced Nationally Determined Contribution is approximately US$281 billion. Regarding the achievement of net-zero emissions by 2060, Indonesia requires around US$1.1 trillion," Airlangga explained.