James Riady: Indonesia Holds Strong Potential as a Key Investment Destination for Russia
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JAKARTA, investortrust.id – Indonesia offers vast opportunities for Russian investment across key sectors such as healthcare, education, and infrastructure, underpinned by strong political will between both governments to deepen bilateral ties, according to James Riady, Vice Chairman for International Relations at the Indonesian Chamber of Commerce and Industry.
Speaking at the Russia–Indonesia Business Forum in Jakarta on Monday, Apr. 14, 2025, Riady emphasized that the longstanding relationship between the two countries presents a solid foundation for building concrete, long-term economic partnerships.
“I think Indonesia provides a lot of opportunities for Russia. We are at a late stage of development, and in almost every sector—from healthcare to education—the issue is not demand, but supply,” said Riady. “So what we want to see is not just cooperation in defense and energy, but also broader business engagement that supports Indonesia’s domestic development.”
He urged Russian companies to look beyond large-scale sectors and explore high-growth areas that directly impact Indonesian society, such as education and health services. Riady cited Russia’s early role in establishing the Friendship Hospital, one of Indonesia’s first healthcare institutions with Russian assistance, as a successful model for cooperation that could be expanded.
James Riady also called for stronger business-to-business engagement between the two countries, noting that existing efforts fall short of the potential.
“We need more business interaction. We haven’t done enough to bring Indonesian businesses to Russia, or to welcome Russian businesses here in a meaningful way,” he said.
The forum, held as part of the 13th Russian-Indonesian Joint Commission on Trade, Economic and Technical Cooperation, was attended by key figures including Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto and First Deputy Prime Minister of the Russian Federation Denis Manturov.
In his remarks, Riady encouraged Russian business associations to collaborate directly with the Indonesian Chamber of Commerce and Industry, or Kadin, to facilitate investment matchmaking, market navigation, and joint project development.
“Russia has so much to offer—in science, technology, healthcare, education, and sports,” Riady said. “And we look forward to exploring co-investment opportunities, including through my own group.”
He added that Indonesia’s strength lies in its private sector, which has grown not only at home but also regionally across Southeast Asia, often through cross-border partnerships. According to Riady, this makes Indonesian firms ideal partners for Russian investors seeking both scale and regional access.
“What matters is not only formal diplomacy, but also real, on-the-ground engagement among businesspeople,” he concluded.