Development of a green economy without a clear development roadmap would make our country vulnerable to overexploitation by foreign investors
Jakarta (ANTARA) - House of Representatives' (DPR RI's) Commission I member Sukamta underscored the significance of a green economy roadmap to tackle potential overexploitation of Indonesia's natural resources by foreign investors.

"Development of a green economy without a clear development roadmap would make our country vulnerable to overexploitation by foreign investors," Sukamta noted in his written statement received here, Saturday.

Sukamta pointed out that while the Job Creation Law eases legal and investment requirements for prospective investors, foreign investors might take undue advantage of the lax implementation of the law to overexploit Indonesia's natural resources.

Indonesia, with its large potential of nickel, cobalt, manganese, and lithium reserves, is attractive for foreign electronic companies seeking to develop green energy resources and the green industry, he noted.

"Foreign companies had exploited our oil and coal in the past and are currently exploiting our nickel that is useful as a material for their electric batteries," he stated.

To control foreign exploitation, Sukamta urged the government to enact a regulation mandating development of the green economy and its roadmap to close loopholes in aspects pertaining to the environmental, labor, and minor industry barely addressed by the Job Creation Law.

Earlier, President Joko Widodo (Jokowi) had stressed on the importance of renewable energy sources and research and development of a green technology-based economy for Indonesia's sustainable economy.

"Transformation to a new, renewable energy resource and development of the green technology-based economy is important for our economic transformation," President Jokowi noted in his annual address to the People's Consultative Assembly (MPR RI) during the 2021 joint meeting of the DPR RI and the Regional Representative Council (DPD RI) at the Parliament Complex, Jakarta, Monday (Aug 16).

Excluding investment in oil and natural gas and financial sectors during the January-July 2021 period, realization of investment in Indonesia had reached Rp442.8 trillion (around US$30 billion). This investment has opened new job opportunities for the 620 thousand workforce of Indonesia.

President Jokowi expects the investment target of Rp900 trillion (around US$62 billion) for 2021 to be achieved by December 2021.

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Translator: M Razi Rahman, Nabil Ihsan
Editor: Sri Haryati
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