During his visit to Myanmar, Kadin Head and Chair of the ASEAN Business Advisory Council (ASEAN-BAC), Arsjad Rasjid, emphasized that the role of the business and private sectors in establishing trade relations or investment in sustainable energy is important in order to achieve ASEAN economic growth and the 2060 net-zero emissions commitment.
"This new and renewable energy potential must be developed by the two countries as part of ASEAN's efforts to achieve net-zero emission. Myanmar and Indonesia are able to work together to utilize this new, renewable energy to generate electricity," he said in a written statement received here on Thursday.
According to him, Myanmar and Indonesia have the potential for solar, wind, hydro, bioenergy, geothermal, and sea energy.
Myanmar and Indonesia are included in the top 20 countries in the world in terms of their EBT potential for hydroelectric power. However, it has not been utilized properly, he opined.
During the visit, the ASEAN-BAC delegation also pushed priority issues and ASEAN legacy programs, including through the ASEAN Business Entity legacy project initiated by the chairmanship of ASEAN-BAC Indonesia, Rasjid informed.
He said that the ASEAN Business Entity aims to enhance and provide intra-ASEAN investment incentives for inclusive and sustainable industrial and economic development.
"ASEAN-BAC continues to strengthen cooperation and economic stability between countries in ASEAN, including Myanmar. All ASEAN countries will grow together, especially in terms of a sustainable and inclusive economy and embracing all ASEAN countries, including Myanmar," he stressed.
Electric vehicle cooperation
According to Rasjid, Indonesian businesses are hoping to build cooperation with Myanmar in the industrial ecosystem for electric vehicles (EVs) and batteries.
Such cooperation will help create jobs and increase the economic growth of both countries, he said.
Cooperation in the sector is considered strategic because Myanmar also has the third-largest critical mineral deposits in the world and is rich in dysprosium and terbium, earth metal elements that are important for making lighter electric vehicles, he explained.
Myanmar has also taken steps to support the use of EVs, including by building charging stations and granting permits to import electric vehicles to nine companies in the country, he informed.
Therefore, this incentive is useful to open an export market for Indonesia to sell electric vehicles to Myanmar, Rasjid said.
In addition, Deputy President Director and CEO of Indika Energy Azis Armand observed that investment cooperation with ASEAN countries, including Myanmar, will be a good step in efforts to develop Indonesia's EV ecosystem throughout the value chain.
As one of the leading EV companies in Indonesia, Indika Energy has expressed support for the development of the EV sector in Indonesia and ASEAN. It is also exploring the potential for partnerships between Indonesia and Myanmar.
Besides Indika Energy, coal miner TBS Energi is also working to develop the EV sector in Indonesia through Electrum, its joint venture with Gojek, Southeast Asia’s leading mobile on-demand services platform.
The various EV industries that are starting to grow reflect Indonesia and ASEAN countries' capability to become leaders in the EV ecosystem.
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Translator: Ade Irma J, Resinta S
Editor: Sri Haryati
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