Developing countries only get one-fifth, and developed countries have the largest shareNusa Dua, Bali (ANTARA) - Minister of Investment and Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia highlighted Indonesia's efforts to encourage equitable distribution of investment to developing countries through the G20 Presidency.
The minister emphasized that the current distribution of global investment was uneven, especially regarding green investment.
"Developing countries only get one-fifth, and developed countries have the largest share," he noted here on Monday.
Lahadalia explained that currently, the world is actively promoting green energy. Moreover, the products produced using new and renewable energy (NRE) have different selling values from the products without NRE.
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However, the big countries in the G20 group, which hold 80 percent of the world's gross domestic product (GDP), 75 percent of world exports, and constitute 60 percent of the world's population, in fact, receive a large chunk of investment in the NRE sector.
"The flow of investment for NRE is not fair. If only one-fifth is controlled by developing countries that are included in the G20, then there is an extraordinary inequality. Therefore, Indonesia initiates to spread a fair distribution of investment for NRE," he stated.
Through the Trade, Investment, and Industry Ministerial Meeting (TIIMM), the Indonesian government seeks support from other developing countries in order to advance development. Moreover, these developing nations have abundant natural resources.
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"That was a long debate. Thank God, I led the ministerial-level delegation, and it was agreed that there would be an even distribution of investment flows," he remarked.
Speaking in connection with the agreement regarding the distribution of NRE investment flows to developing countries, Lahadalia reminded that developed nations should be wise and open to invest in developing countries, including Indonesia.
Currently, his side will follow up technically by formulating a strategy to attract investment from these developed countries. The minister pressed for the need for a creative strategy to pick up investment, which currently has more opportunities for developing countries.
"This is an agreement, an understanding, a shared awareness that have been opened up. (It is) just like in the Paris Agreement that supports a common awareness. A creative country will get a better portion for this case," he remarked.
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Translator: Ade Irma J, Resinta S
Editor: Fardah Assegaf
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