Adding value to the commodities sector

This panel discussion featured:

• Yudo Dwinanda Priaadi - Director-General for New, Renewable Energy and Energy Conservation, Ministry of Energy and Mineral Resources of the Republic of Indonesia
• Michael Chong - General Manager, Great Wall Motor Thailand
• Bonar Silalahi - Managing Director and Head, Sector Solutions Group, Group Wholesale Banking, UOB

Addressing the potential presented by Indonesia’s development and role within ASEAN, the panel shared their views and provided insights their valued opinions on:

1. Indonesia's Roadmap to Achieve Net Zero Emissions: With Indonesia having set a target to achieve net-zero emissions by 2060 or even sooner with global support, the discussion emphasised the need for new, efficient, and affordable technologies; and financial support for renewable energy projects, energy efficiency, and the development of new energy sources like nuclear, hydrogen, and ammonia.
2. Energy Transition and Renewable Energy: As Indonesia is working towards a shift to more sustainable and renewable energy sources, solar energy is a major focus, but the intermittency issue necessitates the development of energy storage solutions such as batteries. Stable power generation sources like geothermal and hydro are also part of a broader plan.
3. Investment and Infrastructure Development: To create an environment that attracts investments, the government is revising regulations and developing new energy laws to encourage investments in renewable energy and infrastructure projects. Indonesia is also attracting increased foreign direct investment (FDI) and establishing itself as a key player in the ASEAN region.
4. Great Wall Motors' Expansion: Great Wall Motors has expanded into the ASEAN region, particularly Indonesia, and sees ASEAN as a strategic market due to its population and many growth opportunities. The company has made significant investments in local production facilities and has plans for localising production whilst introducing, then expanding the presence of electric vehicles (EVs) in Indonesia.
5. Value Addition in Mining: Indonesia has placed a large focus on value addition in mining, leading to substantial growth in the export of nickel-related products. The challenge is to continually create more value-added products further down the value chain. The alignment of capital, technology, and policy is crucial for this element of economic transformation.
6. Private Sector Opportunities: There are numerous opportunities for private sector investment across Indonesia, including floating solar plants, the development of a super grid to connect islands, and the expansion of the ASEAN power grid. The demand for commodities like copper is expected to increase, driven by infrastructure and energy projects.
7. Synergy and Global Engagement: Indonesia aims to create demand by expanding its renewable energy capacity, particularly in solar, geothermal, and hydro power, with the government working to bridge gaps and collaborate with regional and global partners to drive green industry development.

Overall, the discussion highlighted Indonesia's commitment to sustainable energy and economic growth, attracting investment, and enhancing its role in the ASEAN region by focusing on value addition in mining and expanding its renewable energy sector.

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