The Indonesian Chamber of Commerce and Industry (Kadin), the ASEAN Business Advisory Council (ASEAN-BAC), and the Borneo Economic Community (BEC) today collaborated to hold the Borneo Economic Forum (BEF) to strengthen cooperation and mutual growth among ASEAN countries that are members of the Borneo Economic Community. Under the theme "Regional Connectivity: A Pathway to Inclusive Growth", the event is expected to increase investment into the Capital City of the Archipelago (IKN), boost Kalimantan's economy evenly and contribute to the national economy to support the vision of a Golden Indonesia 2045.

The Governor of South Kalimantan, Sahbirin Noor, in his speech represented by Expert Staff for Government, Law and Politics, Adi Santoso, expressed his deepest appreciation to Kadin Indonesia and Kadin South Kalimantan Province for organising the Borneo Economic Forum. He said, as the third largest island in the world which is the territory of three countries, namely Indonesia, Malaysia and Brunei Darussalam, Kalimantan has great potential for development. Kalimantan's strategic position is further strengthened by the presence of IKN, where South Kalimantan acts as the main gate.

"We are optimistic that South Kalimantan, with its position as the IKN gateway, has great opportunities in the ASEAN arena. The opportunity to reach investors is wide open if we are good at utilising momentum. The Borneo Economic Forum gives us the opportunity to open access to wider collaboration and build consolidation with ASEAN countries under the assistance of Kadin Indonesia and the Borneo Economic Community," said Adi.

On behalf of Sahbirin Noor, Adi hopes that the collaboration established through this forum can encourage the acceleration of inclusive and sustainable economic growth in Kalimantan and strengthen relations between ASEAN countries.

Chairman of ASEAN-BAC Indonesia and Chairman of Kadin Indonesia, Arsjad Rasjid, emphasised the importance of the Borneo Economic Forum as a platform to discuss and formulate solutions for economic development in Kalimantan. According to him, with a combined GDP of around $165 billion, Borneo has a strategic position as a centre for regional economic and trade integration, especially with the presence of IKN Nusantara in East Kalimantan.

"This forum is an effort to support economic development on the island of Borneo. Of course, with the presence of a new government centre in IKN, Borneo plays an important role in becoming one of the epicentres of economic growth towards 8% economic growth driven by the elected government of Pak Prabowo and Mas Gibran, as well as optimising the potential for economic collaboration in Borneo which is geographically directly adjacent to neighbouring Malaysia and Brunei as part of the good neighbour policy," said Arsjad.

Arsjad added that Borneo also has the potential to become a centre for sustainable green economic development through nature-based solutions, renewable energy, ecotourism, and carbon markets. For this reason, planned and integrated infrastructure development in Borneo is very important so that the vision of inclusive and sustainable economic growth can be achieved.

"Integrated connectivity, not just limited to physical infrastructure such as roads and transport, but also including renewable energy, is critical to improving Borneo's economic competitiveness. With this connectivity, we can increase mobility, open up trade opportunities, and attract more investment, especially in building a green economy. This means that Borneo can be integrated in regional supply chain trade," said Arsjad.

In addition, Arsjad also highlighted the importance of collaboration in accelerating economic development in Borneo and building good neighbour policies between countries on the island of Borneo. This cooperation is the main key to encourage sustainable economic growth in Borneo. "I invite more entrepreneurs from Indonesia, Sabah, Sarawak and Brunei to promote cross-border trade and build infrastructure and renewable projects. By doing so, we can realise Borneo's great potential as a green and digital economy hub in ASEAN," Arsjad added.

Brunei Darussalam ASEAN-BAC Chair and Co-Chair of Borneo Economic Community, Haslina Taib, affirmed that BEC has a vision and commitment to prioritise the inclusion of communities and MSMEs in new economic opportunities in the areas of cross-border trade, investment, future of work, and sustainability. Haslina also emphasised the importance of the archipelago as Indonesia's new capital city in enhancing trade cooperation and building sustainable development in Borneo.

"Borneo is endowed with abundant natural resources and a large population, offering great opportunities for the development of a Green and Digital Economy Centre in ASEAN. Brunei is ready to support this growth with its mature infrastructure, including international ports and digital connectivity," Haslina concluded.

The Borneo Economic Forum, which was held on 13 August 2024 at the Rattan Inn Hotel Banjarmasin, featured various panel discussion sessions focusing on three topics, namely trade and investment, human development and mobility, and infrastructure connectivity. The event was attended by business representatives from Brunei Darussalam, Indonesia and Malaysia, as well as other stakeholders who will discuss investment and collaboration opportunities that can drive economic growth in the Borneo region and support the development of the archipelago's IKN.

According to the "ASEAN Statistical Yearbook 2022" report, the value of trade within the ASEAN region was the largest among trading partners with other regions in 2019-2021. The average value of trade in the intra-ASEAN region per year reached US$638 billion, or about 21% of the total trade between regions in the world.