Milestone at ASEAN Summit: Secures 93 Projects Worth US$38.2 Billion

Milestone at ASEAN Summit: Secures 93 Projects Worth US$38.2 Billion

The Indonesian government officially concluded the 43rd ASEAN Summit on Thursday (7/9) last week. The forum successfully agreed on 93 cooperation projects worth US$38.2 billion.

In the series of decisions produced, including statements issued by Eastern leaders on growth centers, development of electric vehicle ecosystems, acceleration of cross-border payments, and local currency transactions.

These achievements were announced by President Joko Widodo during the closing press conference of the 43rd ASEAN Summit at the Jakarta Convention Center (JCC) on Thursday (9/7). Indonesia completed its ASEAN chairmanship in 2023, after which the ASEAN chairmanship for 2024 will be held by Laos.

Jokowi expressed his view that ASEAN, which is called the "Epicentrum of Growth," is a very relevant topic to be discussed at the ASEAN Summit. According to him, despite geopolitical tensions, ASEAN has great potential to become a central global axis.

Jokowi also noted that there are three main strengths that ASEAN currently possesses that can be the basis for becoming a global growth center. First, high economic growth, with the belief that ASEAN economies can achieve annual growth of 4.5 percent by 2024. 

Second, is abundant foreign direct investment (FDI), with data showing that FDI inflows into the ASEAN region will reach 17 percent by 2022. 

Third, ASEAN's population of about 65 percent is of productive age, making it one of the third largest productive populations in the world. Jokowi emphasized that with these strengths, ASEAN has great potential to become an upper middle class country by 2023.

The outcome of the 43rd ASEAN Summit is a continuation of the agreements reached in previous summits. These agreements will then be implemented through close cooperation with ASEAN partners.

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