The LOI was signed by the Victorian Government on 10 October 2022 in Melbourne, and consecutively by the Governor of West Java, H.E. Ridwan Kamil on 24 October 2022 in Bandung during a hybrid ceremony witnessed by the Governor of Victoria, the Hon. Linda Dessau AC KC, and the Indonesian Consul General in Melbourne, Mr. Kuncoro Waseso.

West Java Province is Indonesia’s most populous province with a population of almost 48 million people. The province contributes a share of 13.23 per cent to Indonesia’s GDP, hosts the country’s most manufacturing sector and consistently attracts the highest capex in term of inbound investment amongst other provinces.

With a young population of 278 million and a workforce of 131.05 million people, Indonesia needs to upskill its workforce to sustain its two decades of continuous economic growth – and Victoria has become one of the most favoured international destinations for Indonesian students.

As the largest economy in Southeast Asia, Indonesia has also become one of Victoria’s main export destinations. It’s currently Victoria’s sixth-largest goods export market, with Victorian exports to Indonesia totalling $1.1 billion in 2021 and two-way trade reaching $2.8 billion.

Over the past 15 years, Indonesian middle-class has grown from 7 per cent to 20 per cent of the population, with 52 million Indonesians currently belonging to the group. This rapid rise has created increased demand for Victorian premium food products, professional services, and high-quality education.

To help Victorian businesses take advantage of this demand, a Victorian Government Trade and Investment (VGTI) office has been in operation in Jakarta since 2014 to help connect Victorian businesses with local opportunities.

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