Deputy Foreign Minister: Indonesia Competes on Trust Amid Global Uncertainty

Jakarta (ANTARA) - Deputy Foreign Minister (Wamenlu) Arif Havas Oegroseno said that Indonesia is no longer competing solely on aspects of taxes, labour costs, or investment facilities, but also in maintaining investor trust amid increasing global uncertainty.

Delivering a speech at the International Seminar on Debottlenecking Channel at the Ministry of Finance office in Jakarta on Tuesday, Deputy Foreign Minister Havas conveyed that global investors face new challenges amid the phenomenon of “weaponization” in various strategic sectors, so Indonesia needs to strengthen the trust aspect.

“I believe that we are no longer just competing on taxes. We are also no longer just competing on issues related to facilities, land availability, or labour costs. We are now competing on trust, predictability, efficiency, resilience, and also strategic position,” he said.

Deputy Foreign Minister Havas added that in overcoming investment barriers, speed has become a very important aspect, as has the legal aspect, regulatory coherence, infrastructure readiness, and diplomacy.

“I do not see this merely as deregulation. This is more about direction. This is about the direction of your investment in Indonesia in the future, both in the short, medium, and long term,” he stated.

Havas emphasised that economic relations, trade, and investment are also part of the scope of work of the Ministry of Foreign Affairs.

According to him, those aspects are also covered in various trade cooperation negotiations with a number of regions and countries, from the European Union, Switzerland, Latin America, to ASEAN.

He also urged global business actors planning to invest in Indonesia and facing obstacles to coordinate with the Ministry of Foreign Affairs or Indonesian representations abroad.

“So, for example, if there is an investment coming from countries in the Middle East, Europe, or Latin America entering Indonesia, you can coordinate with us, the Ministry of Foreign Affairs or the Ministry of Finance,” he said.