Hosted by the Indonesian Chamber of Commerce and Industry (KADIN), with the support of the Indonesia Australia Business Council and Indonesian Government, the B20 Summit Indonesia 2022 was held in Nusa Dua, Bali on 13 – 14 November 2022.

10 Victorian businesses joined with over 3000 business and government leaders from 69 countries. The Summit featured prominent keynote speakers from both government and business, including President Joko Widodo, Prime Minister Anthony Albanese, Prime Minister Justin Trudeau, President Yoon Suk-yeol and Her Majesty Queen Máxima of the Netherlands.

Several Indonesian national ministers and CEOs of both Indonesian and global companies shared their insights in panel discussions.

At the conclusion of the Summit, B20 Indonesia delivered B20 Communiqué, concluding a year-long effort in formulating policy recommendations for G20 leaders. The Communique consists of 25 policy recommendations and 68 policy actions, which covers three main elements:

• promote innovation
• facilitate inclusive development
• drive collaborations.

Highlights for Victoria

The Summit also featured many sideline events and dozens of MoU signings, including one from Victoria.

Deakin University announced their plan to develop a join campus together with Lancaster University in Bandung West Java, Indonesia. Governor of West Java H.E. Ridwan Kamil, Deakin’s Pro Vice-Chancellor (International) John Moloney and Lancaster’s Pro Vice-Chancellor (Global) Simon Guy made the announcement at press conference on the sidelines of the event.

The campus plan in Bandung has received strong support from Australian and British Governments and will offer a unique combination of an Australian and British degree subject to the approval by Indonesian national regulators.

The plan is being facilitated and supported by Navitas. Monash University was also present and celebrating the first year anniversary of the new Monash Campus in Indonesia.

Other delegates were aligned to the priorities set by Indonesia during its G20 presidency which covered digitalisation, energy transition and health security. Earlier this year, the Victorian Government welcomed the Indonesian B20 delegation to Melbourne led by B20 Indonesia Chair Mrs. Shinta Kamdani. A briefing to the delegation from Victoria’s Commissioner to Southeast Asia Rebecca Hall outlined Victoria’s work and priorities in the region and key areas of opportunities for Victorian businesses and exporters.

The delegation also paid a courtesy call to the Victorian Premier, the Hon Daniel Andrews, where they received the Premier’s commitment for Victoria’s strong presence at the B20 Summit Indonesia 2022.

A new focus on green economy

At the B20 Summit Closing session, Prime Minister Albanese and President Widodo delivered keynote addresses offering a glimpse into a new focus on green economy.

Mr Albanese highlighted his determination to write a new chapter in the long history of Australia–Indonesia friendship and cooperation. He also shared his believe that Australia can be a renewable energy superpower, his commitment on growing Australian clean energy export industry, and to carry out his commitment with cooperation between Indonesia and other nations.

President Widodo shared his optimism in the face of current global challenges, and believes that development of downstream industry, green economy and inclusive digital economy are vital to Indonesia’s future.

Indonesia, which holds a fifth of the global reserves of nickel, has started to downstream the sector by developing a giant EV battery ecosystem. The President extended an invitation to Australia to be part of the project.

The new focus is aligned with Victorian Government investment in Victoria’s green economy.

In October 2022, Deakin University launched a $10.3 million world-class facility for advanced battery design, fabrication, and testing, located in Burwood, Victoria. The project includes co-contributions from the Victorian Higher Education State Investment Fund (VHESIF) and will build Victoria's role in the global supply chain for advanced batteries, while maintaining Victoria’s position as Australia’s prime skills and innovation capital in the sector.

Indonesia is a growth market

Indonesia is the largest economy in Southeast Asia and experiencing rapid growth.

It is the sixth-biggest emerging market by GDP, and in the past decade has grown faster than any other USD $1-trillion-plus-economy bar China and India.

Indonesia has undergone a massive digital transformation, with over 100 million citizens collectively spending USD$80 billion annually on online transactions. Over the past 15 years, Indonesia's middle-class population reached 52 million, jumping from 7 per cent to 20 per cent.

Connecting Victorian businesses to local opportunities

To help Victorian businesses take part of this growth, a Victorian Government Trade and Investment (VGTI) office has been in operation in Jakarta since 2014. The VGTI can connect your business to local opportunities.

Our expert team in Indonesia are trade, investment, government, education and research specialists.