Good morning Chief... 

The following is important information related to the development of the business universe that needs attention today based on the curation of the SUAR Team.

Indonesia-Saudi Arabia Agree to Invest Rp437 Trillion 

The governments of Indonesia and Saudi Arabia have agreed to invest USD27 billion or Rp437 trillion in various fields, ranging from construction services to renewable energy, the Ministry of Foreign Affairs reported on Thursday morning, July 3, 2025.

This investment is expected to create new jobs in Indonesia and boost the growth of priority sectors, such as energy, downstream industry, and environmentally friendly technology.

Some of the B-to-B cooperation agreed upon include:

• Investment MoU between BPI Danantara and ACWA Power for 10GW renewable energy project;
• PT Pertamina's cooperation with ACWA Power for 500MW clean energy development;
• PT Pertamina Patra Niaga's cooperation with AlShams for jet fuel services;
• PT Waskita Karya's cooperation with PLADCO for the development of construction projects in Saudi Arabia;
• VELA's cooperation with SISA for the development and assembly plant of Alpha aircraft; and
• Cyber Mantra and Forytine Arch's collaboration with ITEAC for the development of a digital technology center in Saudi Arabia.

This was President Prabowo Subianto's first visit to Saudi Arabia since his inauguration in October last year. 

The President arrived in Jeddah on the evening of July 1, 2025, welcomed by the Saudi Minister of Commerce, the Deputy Governor of Mecca and the Mayor of Jeddah. The following day, he held bilateral meeting sessions with 

During President Prabowo's meeting with Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman bin Abdulaziz Al Saud, the two countries agreed to strengthen bilateral partnerships and cooperation on various strategic issues, such as trade, investment, energy, defense, employment and also improving services for Indonesian Hajj and Umrah pilgrims. 

The two leaders also exchanged views on recent developments in the Middle East including the Palestinian issue and Iran. "The two sides welcomed the signing of various agreements and MoUs by the private sector worth around USD27 billion, reflecting the aspirations of an advanced economic partnership," said a joint official statement from the two countries...

Saudi Arabia is listed as one of Indonesia's main trading partners in the region with the value of bilateral trade over the past five years, reaching around USD31.5 billion or IDR502.7 trillion. Both leaders agreed on the importance of expanding trade volume, increasing visits by high-ranking officials, and organizing joint business activities through the Saudi-Indonesian Business Council.

AI Companies Invade Indonesia

The growing potential of Indonesia's digital market has attractedartificial intelligence (AI)-based technology companies to open offices in the country. 

According to a report by Kompas Daily, the latest Singapore-based company Dyina.AI plans to open its office in Indonesia in July 2025. 

According to Dyna.AI's Global Public Relations Manager, Trixy Aw, there are still few startups in Indonesia that offer AI solutions as comprehensive as Dyna.AI.  

Its products are now used by a number of domestic companies, including PT Neo Karya International-a company specializing in data and technology services for the financing industry.

Some of the benefits of the arrival of artificial intelligence companies include: 

• Solutive opportunities for local entrepreneurs to transform, innovate and improve competitiveness.
• The presence of cutting-edge technology from global startups 
• Opening up access for Indonesian UMKM and entrepreneurs to advanced tools without large investments. They can utilize AI platforms for customer service automation (multilingual chatbots), social media sentiment analysis, and market research. 
• Technology helps entrepreneurs improve efficiency, such as logistics startups that optimize delivery routes to save time and fuel costs.

Economist at the Institute for Development of Economics and Finance (Indef) Eko Listiyanto believes that in relation to the expansion of AI companies into the country, the government needs to improve and develop digital infrastructure in Indonesia to build a globally competitive Indonesian digital ecosystem. 

In addition, it is also necessary to educate the public in utilizing digital equipment to increase productivity. "The government in the future needs to be more aggressive in encouraging digital infrastructure, hard infrastructure (signals and equitable internet access). People also need to be educated to be able to master soft skills to utilize digital technology productively so that it can improve their economy and welfare," Eko told SUAR, Thursday (3/7).

In building a digital ecosystem, the government is also expected to make aspirational regulations. The policies drafted need to listen to and involve companies and actors in the digital sector. So far, government involvement often makes investors or companies feel scared.

"Regulations should not be too strict, including when making regulations, they should more often listen to input from digital business actors," he said. 

According to the DataReportal 2025 report, there are 219 million internet users (73% of the population) and the value of e-commerce share is predicted to reach Rp1,900 trillion, making Indonesia one of the largest digital markets in the world.

Ahead of Deadline, Indonesia Signs Trade Deal with Trump 

Indonesia will sign USD34 billion worth of deals with US business partners next week to increase purchases of goods from the United States (US) as well as efforts to reach a trade deal with Washington DC on July 9. 

Indonesia faces a 32% tariff on the US market and has previously offered to increase imports from the United States to facilitate trade negotiations between the two countries.

Quoting Reuters news agency, Coordinating Minister for Economic Affairs Airlangga Hartarto explained that the memorandum of understanding (MoU) will be signed on July 7 and will allocate USD34 billion for new Indonesian investments and purchases of goods in the United States.

According to the Office of the US Trade Representative, Indonesia recorded a goods trade surplus of USD 17.9 billion with the United States in 2024.

By improving the trade balance with the United States, according to Airlangga, Indonesia hopes to obtain a better trade agreement than that reached by Vietnam.

The United States on Wednesday announced it would impose a 20% tariff on many Vietnamese export products - lower than the 46% tariff President Donald Trump previously announced in April. 

Elon Musk is the reigning World's Richest Man

Elon Musk has again been named the richest person in the world as of July 2025. His total wealth reached USD342 billion according to Forbes business magazine, followed by Mark Zuckerberg in second place with a wealth of USD 216 billion and Jeff Bezos in third place with a wealth of USD 215 billion. 

Since 2022 Elon Musk has been named the richest person in the world with a total wealth of USD219 billion beating Jeff Bezos (USD171 billion). In addition to SpaceX, Elon Musk owns the electric car company Tesla. In 2022, Elon Musk's wealth increased to USD219 billion US dollars. However, in 2023-2024 Elon Musk's wealth decreased until in July 2025 it shot up again.

Elon Musk has quite a flashy background which is one of the success factors and makes him the richest man in the world. Apart from Elon Musk and two other figures, there are also several names that are included in the ranks of the richest people in the world, such as Bill Gates, Warren Buffett, and Tiktok founder Zhang Yiming. 

Source: Forbes page.

National Literature Conference: The People's Cultural Network (JAKER) is organizing another National Literature Conference to be held on July 4, 2025. Taking the theme 'Literature Together with the People Realizing a Just and Prosperous Society' is a big theme that evokes the spirit of mutual cooperation and struggle through words. 

The conference will not only feature poetry readings and literary discussions, but also a cross-generational dialog connecting word warriors from the past with new voices from the younger generation.

Writers from various regions will gather, discuss, and create works that are not only beautiful, but also ignite collective consciousness and spirit.

Mount Slamet Festival: The government of Purbalingga Regency, Central Java is holding the 8th Gunung Slamet Festival (FGS) in 2025 at the Lembah Asri Serang (D'LAS) Tourism Village on July 4-6, 2025. The festival presents a variety of traditions and cultures as well as music 

United States Independence Day: Independence Day/Fourth Of July falls on July 4 every year. Historically, it is celebrated in memory of the 13 British colonies in North America that officially proclaimed their independence from Great Britain in 1776 under the name United States of America.

Have a good day Chief.

Team SUAR