Bandung, West Java (ANTARA) - President Joko Widodo (Jokowi) said he is optimistic that state-owned weapons manufacturer PT Pindad will be one of the top 50 defense industries in the world by 2025.

During his visit to PT Pindad in Bandung on Tuesday, the President observed that the company is developing very fast.

"This is a rapid development; in 2022, Pindad's ranking as a defense company is ranked at 79. We estimate that it will be ranked 60 in 2024, and top 50 in 2025," he said.

He noted that PT Pindad produces bullets and ammunition in Turen, Malang district, East Java, and produces industrial equipment and combat vehicles in Bandung.

He said he believes that PT Pindad will be one of the world's top 50 defense companies two years from now given its excellent production results that could support a significant increase in revenue.

"The progress can be seen from PT Pindad's annual revenue, which reached Rp25 trillion (US$1.6 billion) in 2022, and is projected to reach Rp27 trillion (US$1.7 billion) in 2023. Most of the orders (for defense products) are from the Ministry of Defense," he added.

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On the same occasion, president director of PT Pindad, Abraham Mose, said that the company's growth has been positive and it has exported its products abroad.

"For export, we routinely send ammunition of two containers every month to the US. There is a lot of demand for weapons, pistols, and combat vehicles," he informed.

Meanwhile, President Widodo said that PT Pindad's current development can be an opportunity to realize the goal of making it one of the top 50 defense companies by 2025.

"There is a prospect, an opportunity that can be used," he added.

On Tuesday, President Widodo visited PT Pindad in Bandung and took a ride on its latest vehicle, Maung, with Defense Minister Prabowo Subianto taking the wheel.

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Translator: Ricky P, Kenzu
Editor: Yuni Arisandy Sinaga
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