The Indonesia Investment Authority (INA), the Southeast Asian nation’s sovereign wealth fund, and the Australian Embassy in Indonesia have signed a memorandum of understanding (MoU) to support Australian investment into Indonesia.

The parties said the MoU partnership will build on Invested, Australia's Southeast Asia Economic Strategy to 2040, which was announced by Prime Minister Anthony Albanese in Jakarta in September 2023 to deepen Australia's economic engagement with the region.

The strategy sets out a practical pathway to increase Australia's two-way trade and investment with the region. Ten sectors have been prioritized as offering the most potential for growth: agriculture and food; resources; green energy transition; infrastructure; education and skills; visitor economy; healthcare; digital economy; professional and financial services; and creative industries.

“This MoU represents a key advancement in attracting and fostering Australian investment in Indonesia,” says INA chief executive officer Ridha Wirakusumah.  “Through this collaboration, we can catalyze significant Australian investment in key sectors vital to Indonesia's growth and development, enhance our economic ties, and deliver substantial benefits for both our countries.”

The Australian Embassy Jakarta Investment Deal Team, which blends private sector, government, and financing services to support investment from Australia to Indonesia, will work with the INA to identify assets and appropriate structuring, so that opportunities are investor-ready for Australian participants.

Australia’s foreign affairs minister Penny Wong says: “The strategy reinforces that trade and investment diversification is key to our shared future prosperity and economic security. We seek genuine partnership with Southeast Asian economies to capture untapped opportunities for our mutual benefit.

“Investing in priority sectors such as the green energy transition, infrastructure and food security is an investment in Australia's future and the future of the region.”