According to the president, Indonesia can allocate US$40 billion of the budget, usually spent on fuel imports annually, to support strategic government programs in education, health, and poverty eradication.
“This is the potential (of budget) that we can actually use to help our people in strategic areas, such as education and health,” Prabowo remarked at the 49th Indonesian Petroleum Association (IPA) Convention and Exhibition here on Wednesday.
He encourages collaboration between the government, the private sector, and state-owned enterprises to realize his vision of energy self-sufficiency.
"I encourage all stakeholders from within and outside the country; please utilize the opportunities we provide," Prabowo remarked.
According to the president, Indonesia has several potential energy reserves that have yet to be explored, including new and renewable energy sources.
"We have prepared a large investment fund from Danantara Indonesia, which is also ready to invest strategically in available energy projects, along with foreign partners, to drive our needs,” Prabowo stated.
"We are very optimistic that soon we will not only be self-sufficient in energy, but we will again supply energy to the world," he remarked.
The IPA Convention and Exhibition (IPA Convex) is an annual event attended by delegates from 60 countries involved in various energy-related sectors.
Prabowo is the first president to attend the IPA Convex in the last decade.
CEOs of world-renowned energy companies and foreign ambassadors, including from Egypt, Oman, the United Arab Emirates, and Malaysia, were also present at the event.
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Translator: Genta Tenri Mawangi, Yashinta Difa
Editor: Arie Novarina
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