Indonesia attracts foreign investment in technology sector

November 04, 2024 | 16:08

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As many as 19 Australian companies have expressed an interest in investing in Indonesia's technology sector, Communication and Digital Affairs Minister Meutya Hafid said on October 31.

Indonesia attracts foreign investment in technology sector

Indonesian Communication and Digital Affairs Minister Meutya Hafid (right) holds a meeting with Australian Ambassador to Indonesia, Penny Williams. (Photo: antaranews.com)

Jakarta – As many as 19 Australian companies have expressed an interest in investing in Indonesia's technology sector, Communication and Digital Affairs Minister Meutya Hafid said on October 31.

Speaking to media after her meeting with Australian Ambassador to Indonesia Penny Williams, Meutya said that their discussion focused on potential areas for their cooperation, particularly information and technology sector.

This is very positive (development) along with the increasing role of the digital sector in Indonesia's economic growth, she said.

According to data from Statistics Indonesia (BPS), during the 2019-2024 period, Australian investments in Indonesia totaled at least 1.96 billion USD. In 2023, Australia was Indonesia's 10th largest source of foreign direct investment, equivalent to about 500 million USD.

According to Meutya, the two sides also discussed promoting cooperation in cyber security, solutions to respond to risks and threats from cyber security. In addition, the issue of cooperation in digital transformation was also discussed in an effort to implement the Comprehensive Strategic Partnership Action Plan 2025-2029.

For her part, Ambassador Penny said she hopes that cooperation between Australia and Indonesia can continue and be strengthened further.

The cooperation established between the two countries in the communications and digital sectors has so far included the Australia Award scholarship programme for artificial intelligence training, visits by Australian technology companies to Indonesia, strengthening Southeast Asian economic strategies, and cybersecurity training.

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By VNA

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