Jakarta. Chandra Asri Group, the leading chemical and infrastructure solutions company in Indonesia, recently took part in the 2024 Indonesia Incorporated Day organized by the Foreign Affairs Ministry. Chandra Asri was among the private sector representatives attending the event.

The company shared its “Go Global” strategy -- in collaboration with state-owned enterprises (SOEs) -- to create value for the business and all stakeholders, including for the country and the Indonesian diaspora.

According to Andre Khor, the chief financial officer (CFO) of Chandra Asri Group, the company seeks to be a growth partner for Indonesia. Chandra Asri Group also vowed to contribute to the country’s efforts for downstream value creation and economic diplomacy. Andre said that the company has attracted foreign direct investment (FDI) in partnership with many world-class companies from abroad, and is currently diversifying its business both domestically and internationally, in line with its core capabilities. 

Chandra Asri Group also sought to complete organic growth strategies in the chemical sector by establishing a world-scale Chlor Alkali and Ethylene Dichloride Plant (CA-EDC Plant), alongside associated core infrastructure investment. The development of the CA-EDC Plant targets the concept of Public-Private Partnerships (PPP) to meet local and regional needs within Indonesia and the South-East Asian region. This investment will reduce Indonesian imports and expand its exports, to support nickel and alumina refining, which underpins the production of batteries for the electric vehicle industry which is a core part of the solution for the global energy transition. 

According to Chandra Asri Group, the implementation of Public-Private Partnerships on an international scale is expected to bring manifold benefits to Indonesia, through the development of an Indonesia-centric ecosystem with leading global companies with strong partnerships and co-creation of solutions. Through PPP investing in strategic assets abroad, Indonesia has the potential to secure energy supplies and reduce dependence on foreign entities. The Energy Ministry noted that in 2022, Indonesia imported up to 60 percent of its fuel needs and 80 percent of its chemicals. The growth and expansion will also provide more opportunities to Indonesia’s 8.8 million strong diaspora talent. 

Indonesia Incorporated Day is expected to formulate a strategic action plan for priority sectors and foster cooperation between the Foreign Affairs Ministry, the SOE Ministry, related SOEs, and the private sector in implementing SOE Go Global initiatives.

The event also became a platform to explore the potential of the Indonesian diaspora, which is an important asset for the country’s economic diplomacy efforts. 

The event, which was sponsored by Bank Negara Indonesia (BNI), took place in Nusa Dua, Bali. Deputy Foreign Affairs Minister Pahala Mansury also joined the event.