"God willing, our investment growth in the 2023 first quarter is on track despite the dynamics and global economy influence," the minister stated at the Presidential Palace.
Lahadalia noted that the dynamics and global economic influence is not that significant yet so as to truly impact Indonesia.
"What is for sure is the year-on-year growth," the minister remarked.
However, he did not elaborate on the exact figures of investment growth in the first quarter of 2023.
Lahadalia also spoke of discussing about regulations on the extension of some mining permits' prospects.
"What is important about the extension is getting maximum profit for Indonesia," he affirmed.
The Investment Coordinating Board has stated that investment during the January-December 2022 period was recorded at Rp1,207.2 trillion (US$80.6 billion), equivalent to 100.6 percent of the initial target.
The investment in 2022 increased by 34 percent as compared to the previous year, and it generated employment for 1,305,001 people in Indonesia.
Indonesia aims to generate Rp 1,400 trillion (US$93.5 billion) in investment in 2023.
He remarked that the latest investment realization involved PT Vale Indonesia, a state-owned mining company; China's Zhejiang Huayou Cobalt; and the United States' Ford Motor, in collaboration to develop a sustainable national nickel industry, so as to provide more affordable electric vehicle batteries.
The collaboration outlines capital disbursement in the High-Pressure Acid Leach (HPAL) project at the Pomalaa block in order to process nickel ore to produce mixed hydroxide precipitate, which is a nickel product used in electric vehicle battery production.
The minister was present along with President Joko Widodo, who witnessed the memorandum of understanding being inked in East Luwu, South Sulawesi, on Thursday, March 30.
"HPAL to build battery material, (and the project) has begun this year," Lahadalia remarked.
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Translator: Gilang Galiartha, Mecca Yumna
Editor: Azis Kurmala
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