RIYADH: Indonesia was looking to exchange resources with Saudi Arabia to boost the production of electric vehicles and strengthen energy cooperation, an Indonesian business leader has revealed.
Speaking to Arab News on the sidelines of the Future Investment Initiative forum in Riyadh, Arsjad Rasjid, chairman of the Indonesian chamber of commerce, said the southeast Asian country supplied more than 40 percent of the world’s nickel, heavily used in e-vehicle batteries, and had an array of energy facilities.
“This is where Saudi Arabia, with the capital and technology, and Indonesia can work together,” he added.
“There is interconnectivity here on the level of electric vehicle ecosystems that can be synergized between Saudi and Indonesia.”
He pointed out that with the shifting global supply chains against the backdrop of the current geopolitical scene, Indonesia was seeking to create synergies with the Middle East.
In November, Indonesia will host the G20 and B20, which will bring together world leaders, policy makers, and international businesses, in what Rasjid called “a great opportunity to create ecosystems and supply chains” and boost Saudi investment in Indonesia.
“What we want to see is not only how Saudi Arabia will invest in Indonesia, but also how Indonesian businesses will be able to participate in investment in Saudi,” he added.
Hajj and Umrah pilgrimage, he noted, was also another area of cooperation that Indonesia, as the world’s most Muslim populated country, was seeking to strengthen with the Kingdom.
The three-day FII gathered more than 6,000 participants – from policymakers, investors, entrepreneurs to young leaders – for discussions on topics ranging from geoeconomics to gaming.