More investment from international corporations is needed for Indonesia's strategic objective of using its abundant natural resources to grow homegrown businesses, the country's vice foreign minister told Nikkei Asia.

Instead of exporting the raw materials, the administration of President Joko "Jokowi" Widodo has chosen to support the growth of indigenous nickel and other commodity processing companies. In an interview in Tokyo on Monday, Vice Minister for Foreign Affairs Pahala Mansury stated that, of course, investment into Indonesia is necessary in order to be able to actually process these vital minerals as well as other natural resources through what we call the "downstream" initiative that we have.

According to him, the nation is in a good position to attract investments as multinational corporations diversify their supply chains in an effort to lower geopolitical risks. "We are witnessing a global 'de-risking.'" He noted that in order to expand the industrial centers' worldwide supply chain, they are searching for new nations. We consider Indonesia to have a great potential to seize that.

Mansury, the head of Indonesia's economic diplomacy, traveled to Tokyo to have meetings with business executives and economic authorities from Japan. He has a wealth of commercial expertise, in contrast to many other diplomats, having held positions as president of flagship airline Garuda Indonesia and director of Bank Mandiri in the past.

As the world's largest producer of nickel, a mineral used to make batteries for electric vehicles, Mansury declared, "There are many opportunities to be able to build a supply chain of battery manufacturing in Indonesia," urging more businesses to establish an ecosystem for battery manufacturing in Indonesia.

By 2045, when it will celebrate 100 years of independence, Indonesia hopes to have developed a sophisticated economy. Mansury noted that in order to meet the targets, Indonesia would need to increase its yearly growth rate from the existing level of above 5% to 6% to 7%. He emphasized that adding value to industries is essential.

Mansury stated that by taking use of the archipelago's geographic advantage, Indonesia's growth plan may also be applied to shipbuilding and maritime shipping. The following administration will carry on pursuing the 2045 objective once Jokowi's tenure concludes in October, according to Mansury.

As part of its strategy to ease tensions in the South China Sea, where it is at odds with China as Beijing expands its activities in Indonesia's exclusive economic zone around the Natuna Islands, where abundant oil and gas reserves exist, he added, Indonesia will step up collaboration with other nations.

It goes without saying that China is one of our biggest trading and investment partners. However, he said, in order to be able to really go on expanding our economic cooperation in the future, we would also like to grow increasingly more with other nations.