Indonesia's Ministry of Investment and Hilirisasi/Investment Coordinating Board (BKPM) is aggressively pursuing foreign investment, as evidenced by Deputy Minister Todotua Pasaribu's recent visit to Australia (March 19-20, 2025). During his trip, coordinated with the Indonesian Chamber of Commerce and Industry (KADIN), Mr. Pasaribu engaged in high-level meetings with Australian government officials, investors, and business leaders. Key events included a keynote address at the Australia-Indonesia Business Forum (AIBF), attended by 40 Australian companies, and the opening of the Indonesia Investment Roundtable and Networking event.

Mr. Pasaribu highlighted significant investment opportunities, particularly in the USD 618 billion hilirisasi (downstream processing) sector and national strategic projects (PSN). These initiatives align with President Prabowo Subianto's ambitious 8% economic growth target. He emphasized key sectors identified in the "Asta Cita" national program, including renewable energy, hilirisasi industries, digital economy, infrastructure, and education. Furthermore, he drew attention to 77 prioritized PSN projects for 2025-2029, many involving private sector participation, such as hilirisasi programs for salt, soda ash, palm oil, coconut, seaweed, nickel, tin, bauxite, and copper.

The Deputy Minister underscored the importance of investment in hilirisasi and green energy for sustainable economic growth. He invited Australian investors to capitalize on Indonesia's identified 28 hilirisasi commodities, with a combined investment potential of USD 618 billion, focusing on priority sectors like nickel and bauxite hilirisasi, renewable energy development, and digital infrastructure.

Australian Minister for Trade and Tourism Don Farrell expressed strong interest in these opportunities, emphasizing Australia's advanced food production technology as a key asset for collaboration. He also highlighted potential synergies in Indonesia's new capital city (IKN) development, where Australia possesses considerable expertise.

The AIBF, supported by the Australian Department of Foreign Affairs and Trade, KADIN, Fitzpatrick & Co, and KPMG, also featured addresses by New South Wales' Minister for Finance and Minister for Regulatory Reform and Fair Trading. Mr. Pasaribu showcased the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) and successful Australian investments in Indonesia.

KADIN's Deputy Chairman for Foreign Relations, Benardino M. Vega, echoed Mr. Pasaribu's sentiments, advocating for stronger Indonesia-Australia business partnerships, particularly in supporting Indonesia's priority sectors. He noted the shared vision of both countries regarding ASEAN's strategic importance and the ongoing exploration of collaborative opportunities, including in critical minerals.

Over the past five years (2019-2024), Australia ranked 10th among countries with the largest realized investments in Indonesia, totaling USD 2.7 billion. The most popular sectors were mining (59.4%), hotels and restaurants (7.9%), other services (7.1%), housing, industrial estates, and offices (4.7%), and fisheries (4.7%).