Cabinet Secretariat of the Republic of Indonesia | President Jokowi Invites PEA to Build Financial Center in IKN and Invest in Electric Vehicle Ecosystem President Jokowi Invites PEA to Build Financial Center in IKN and Invest in Electric Vehicle Ecosystem

President Jokowi made a statement to the press after watching the opening match of the 2024 President's Cup football tournament at Si Jalak Harupat Stadium in Bandung Regency, West Java Province, Friday (19/07/2024). (Photo: BPMI Setpres/Rusman)

President Joko Widodo (Jokowi) discussed the important outcomes of his latest state visit to the United Arab Emirates (UAE) on Tuesday and Wednesday (16-17/07). During his meeting with the Chairman of the UAE, Mohamed bin Zayed Al Nahyan (MBZ), President Jokowi highlighted two main issues that are at the center of strengthening bilateral cooperation, in addition to other important issues.

“For the UAE, we only discussed two important things, although there are many others,” President Jokowi said in his statement to the media crew at Jalak Harupat Stadium, Bandung Regency, West Java Province, Friday, July 19, 2024.

First, regarding the construction of a financial center in the capital of the archipelago (IKN). The president said that the government wants to study the system of the Dubai International Financial Center (DIFC).

“There is a system that we want to emulate, what kind of recruitment it is, what kind of money you have to bring to enter the financial centre of Dubai, the DIFC,” he said.

In this regard, the President revealed that a Memorandum of Understanding (MoU) had been signed between the Archipelago Capital Authority (OIKN) and the DIFC. “This means that we hope that the IKN financial centre will soon be established and will be able to operate soon,” he added.

The second issue highlighted is cooperation in the nickel sector, which covers the entire value chain, from upstream to downstream, from mining, production of cathodes and precursors, manufacturing of batteries for electric vehicles, to the electric vehicles themselves. In addition to the PEA and Indonesia, two other countries are currently being approached to collaborate.

“If this is successful, we hope to control 80 to 85 percent of the global market, that's what we're hoping for,” he said.

This collaboration highlights the importance of international collaboration to strengthen Indonesia's position in the global market, especially in rapidly developing sectors such as electric vehicles and battery technology. (BPMI/DNS)

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