Rising Steel Consumption Positions Indonesia as Regional Industry Hub
Indonesia is considered to have the opportunity to become an investment centre as well as a growth hub for the steel industry in Southeast Asia. This prospect is supported by rising domestic steel consumption, increasing downstream investment, and Indonesia’s position as the largest economy in the ASEAN region.
Chairman of the Indonesian Iron & Steel Industry Association (IISIA), who is also the President Director of PT Krakatau Steel (Persero) Tbk, Akbar Djohan, stated that Indonesia is increasingly strategic as a partner for steel industry development in the region.
“Indonesia is further strengthening its position as a long-term investment destination and a strategic partner for the development of the steel industry in the region,” Akbar said during his keynote speech at the Mysteel 2026: 1st Southeast Asia Steel Industry Summit in Jakarta on Thursday (2/7/2026).
Akbar noted that Southeast Asia is one of the regions with promising steel industry growth prospects. According to him, the increase in national steel consumption and improved export performance reflect the strengthening competitiveness of Indonesia’s steel industry.
Amid global economic uncertainty, geopolitical shifts, and the acceleration of the transition towards a low-carbon industry, Akbar assessed that collaboration is a crucial factor in maintaining the competitiveness of the steel industry.
“No single country, company, or organisation can face this transformation alone. The future of the steel industry will be largely determined by how well we share knowledge, drive innovation, strengthen partnerships, and build mutual trust,” Akbar said.
Akbar added that the steel industry also requires a healthy business climate and an acceleration of the transition towards green steel through collaboration between the government, industry players, financial institutions, technology providers, and the energy sector.
According to Akbar, the international forum is expected to open up new partnership and investment opportunities that support the strengthening of the national steel industry’s competitiveness while accelerating the downstream industrial agenda in Indonesia.