RI poised to become SEA's steel industry hub

Jakarta (ANTARA) - The Indonesian Iron and Steel Industry Association (IISIA) stated Indonesia has a massive opportunity to emerge as an investment center and a growth hub for steel industry in the Southeast Asian region.

Backed by solid economic fundamentals, growing domestic steel consumption, and increasing investments in the downstream sector, Indonesia is becoming increasingly strategic as a primary partner for regional steel industry development, Chairman of the IISIA Akbar Djohan said here on Friday.

"Southeast Asia is currently one of the regions with the most promising steel industry growth prospects globally. As the largest economy in ASEAN, Indonesia possesses a massive opportunity to attract investments, while strengthening strategic partnerships in the iron and steel sector," Djohan remarked at "Mysteel 2026: 1st Southeast Asia Steel Industry Summit".

He noted the consistent rise in domestic steel consumption and stronger export performance demonstrate the improving competitiveness of Indonesia's steel industry in the global market.

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Amid global economic uncertainties, geopolitical shifts, and the accelerated transition toward a low-carbon industry, he stressed that collaboration remains key to sustaining the industry's competitiveness.

"No single country, company, or organisation can navigate this change alone," Djohan, who also serves as the President Director of state-owned steelmaker PT Krakatau Steel (Persero) Tbk, noted.

He pointed out the future steel industry will depend heavily on how well stakeholders share knowledge, foster innovation, strengthen partnerships, and build mutual trust.

The urgency of creating a fair playing field and expediting the transition to green steel ecosystem through collaboration, he said, involving the government, industry players, financial institutions, technology companies, and the energy sector.

Through the summit, he hopes the forging of new partnerships and investments could enhance the competitiveness of the national steel industry, aligning with the government’s downstreaming and industrial transformation agenda as stated in the President Prabowo Subianto’s eight priority programmes, Asta Cita.

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Translator: Subagyo, Uyu Liman

Editor: Fransiska Ninditya

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