We invite investors to come with their technologies, capital, and part of their markets
Jakarta (ANTARA) - Minister of Investment and Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia invited global investors to partake in the development of Indonesia's downstreaming industry.

While opening the panel discussion at the Indonesian Pavilion in the 2023 World Economic Forum (WEF) in Davos, Switzerland, Wednesday (January 18), the minister reiterated Indonesia's determination to create added value through green energy and industry-oriented downstreaming.

"Indonesia will be the only country in Southeast Asia to focus on adding the commodity value in its own home. It has been started and is in progress. We invite investors to come with their technologies, capital, and part of their markets. Moreover, we have been tasked by the president to ensure prompt permit granting for investors," Lahadalia noted in a statement here, Thursday.

He said that Indonesia's downstreaming policy strategy would not focus on the nickel commodity alone, as Indonesia has set eight priority sectors of mineral, coal, oil, gas, agriculture, maritime, fishery, and forestry, as well as 12 of its derivatives.

The strategy has been implemented, and according to the plan, the investment value would reach US$545.3 billion by 2035, he noted.

While admitting Indonesia's fight for downstreaming in its own land is not welcomed by some parts of the global community, Lahadalia underscored that it is a must to help develop Indonesia as an advanced country.

Indonesia and other developing countries are aspiring to embark on the same step as developed countries, he stated.

The minister remarked that apart from benefiting investors and entrepreneurs, the Indonesian government is also exerting efforts to ensure regional authorities and local MSMEs grow together and benefit from the downstreaming process.

Meanwhile, President Director of state oil company Pertamina, Nicke Widyawati, said that Pertamina continues to support the downstreaming industry by providing infrastructures for the electric vehicle ecosystem and contributes to achieving net-zero emissions.

She also highlighted the need for collaboration between developing and developed countries to realize energy transition to clean and renewable energy.

"Our greatest challenges in the energy transition are in the form of financing, technology, and human resources. Global cooperation and real action among countries are the keys to expediting energy transition," Widyawati remarked.

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Translator: Ade Irma Junida, Nabil Ihsan
Editor: Sri Haryati
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