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View all search resultsBusinesses urge ‘continuity’ as Bahlil gets senior minister post
President Prabowo’s appointment of Bahlil Lahadalia as coordinating downstreaming and energy transition minister as well as Muhammad Sarmuji as the industry minister sparks calls for regulatory reform, policy continuity and an end to fragmented policymaking.
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Bahlil Lahadalia (left) is sworn in as coordinating minister for downstreaming and energy transition on Thursday at the State Palace in Jakarta. (Government Communication Agency/-)
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usinesses are calling for clearer coordination, regulatory reform and policy continuity as President Prabowo Subianto reshuffles his economic team in a move that puts greater focus on domestic downstreaming efforts.
In his biggest cabinet shake-up since taking office two years ago, Prabowo has appointed Energy and Mineral Resources Minister Bahlil Lahadalia to a newly created post as Coordinating Downstreaming and Energy Transition Minister while retaining his existing position.
At the inauguration ceremony on Thursday, Bahlil was tasked with overseeing coordination between the Energy and Mineral Resources Ministry and the Investment and Downstreaming Ministry, which is currently led by Rosan Roeslani, who also heads state asset fund Danantara.
Indonesian Employers Association (Apindo) chairwoman Shinta Kamdani said investor interest remained intact for now, but sentiment would depend on regulatory certainty, competitive energy costs and the continued implementation of industrial policies following the reshuffle.
“For businesses and investors, certainty is crucial,” she told The Jakarta Post on Friday, stressing that the cabinet shake-up should not disrupt ongoing economic agendas, particularly on investment, industry and energy, given that business decisions are made over the medium to long term.
Shinta said the energy transition should balance energy security, affordability for industry and households, as well as climate-related targets, with a clear policy road map to support long-term investment.
She acknowledged that investment interest remained intact, with investment realization reaching Rp 1 quadrillion (US$55.8 billion) in the first semester, up 7.2 percent year-on-year (yoy).
