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Jokowi : Indonesia must boost downstream investment, take over global green market
President Joko Widodo claims Indonesia’s commitment to strengthening its downstream industry has proved to be fruitful, as it allows the country to gradually shift from selling raw materials to value-added goods.
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President Joko “Jokowi” Widodo, in traditional Bangka Belitung dress, stands prior to delivering his annual State of the Nation Address before the country’s executive, legislative and judicial branches at the House of Representatives complex in Jakarta on Aug. 16. (Antara/Galih Pradipta)
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ndonesia will pursue greater production in downstream industries and take over the world market in green products, President Joko “Jokowi” Widodo said on Tuesday.
Jokowi noted that Indonesia’s commitment to strengthening its downstream industry had proved to be fruitful, as it allowed the country to gradually shift from selling raw materials to value-added goods.
In the case of nickel, for instance, Jokowi said the downstream project had increased Indonesia’s steel export value by 18 times compared with the last seven years, to Rp 306 trillion (US$20.7 billion) last year.
This year, Jokowi expects the value to rise to Rp 440 trillion, a more than 43 percent year-on-year (yoy) increase.
The downstream sector has provided an opportunity for the country to become a part of the global supply chain in the electric vehicle (EV) industry, with EV-producer countries from Asia, Europe and US showing their interest in taking part in development.
“The government will push for downstream [production] in bauxite, copper and tin. We must keep on pushing downstream on our natural resources,” Jokowi said during his State of the Nation speech for the 77th anniversary of the country’s independence.
Read also: Indonesia to formulate grand strategy for nickel industry
