Senin, 20 Februari 2023
INVEST Magazine The Downstreaming's Effect
The Downstreaming's Effect
Indonesia aspires to become a developed country by 2045. To make this dream come true, we implement downstream policies to achieve economic growth of an average of 5.7% per year from 2020-2045. As a start, we banned the export of nickel ores and processed the ores domestically in 2019.
Several countries disapprove our decision over the ban on nickel ore export. However, it would not stop us from processing more raw materials at home. We will expand the downstream from mineral to non-mineral sectors, such as fishery, forestry, agriculture, and plantation. We are also preparing the downstream investment roadmap to create an integrated industry that produces high-added-value materials.
To support the downstream industry, the Ministry of Investment/BKPM focuses on investment in technology-based downstream and labor-intensive sectors. The Ministry also encourages collaboration between downstream industry players and national entrepreneurs in the regions to advance the regional economy.
The Ministry of Investment/BKPM also released Bali Compendium as a commitment that each member of the G20 has the right to determine the direction of their respective countries’ investment policies based on comparative advantage, including downstream. We believe no country should feel more entitled than other countries. This year, Indonesia has reaped the benefits of downstream. Nickel experienced an increase in export value of 809% from 2017-2018. At the end of 2022, the export value is predicted to reach USD 27 - 30 billion, equivalent to IDR 418 - 465 trillion.
Therefore, the Ministry of Investment/BKPM is committed to supporting the downstream policies, creating a positive and attractive business climate for investors, and facilitating easy business licensing, so our grand vision to become a developed country in 2045 can be realized.
Minister of Investment/ Chairman of BKPM
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