Making Indonesia The Prime Investment Destination
Industry downstream becomes a post-pandemic economic recovery scenario
JAKARTA - The Government through the Coordinating Ministry for Maritime Affairs and Investment (Kemenko Marves) is preparing a scenario of economic recovery in Indonesia after the COVID-19 pandemic. One of the scenarios is building an integrated upstream to downstream industry that is believed to be an attractive factor for investment in Indonesia.
That statement is as previously mentioned by the Coordinating Minister for Maritime and Investment, Luhut Binsar Pandjaitan in the ‘Indonesia Moving Forward’ discussion with the theme of Making Indonesia the Post-Pandemic Prime Investment Destination on 02 June 2020.
Coordinating Minister Luhut said, one of the industries that has become the main focus of the government is in the lithium battery industry, which they are planning to fully utilize Indonesia‘s raw minerals that is widely available in Indonesia i.e. nickel and cobalt, as the two main ingredients for producing EV batteries. Based on his team’s research, Menko Luhut said that The Philippines ranked number two in nickel deposit after Indonesia. It is predicted that their nickel deposit will run out in the next two years, so this will enable Indonesia to be the top choice for countries to invest in the lithium battery development sector
"Other countries will depend on us. However we will encourage such countries to ensure transfer of technology. " said Coordinating Minister Luhut.
To build an integrated upstream to downstream industry certainly requires cooperation from other parties. Coordinating Minister Luhut said the Government would open Indonesia for investment to other countries that could provide returns for Indonesia.
"In investment, of course there is take and give. Indonesia will prioritize investors who want to help provide added value to Indonesia in managing mineral resources. There must be a transfer of technology, this is to educate the local workforces, "concluded the Coordinating Minister Luhut.