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Jakarta Post

Jokowi aims to strengthen local iron, steel industry

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Thu, February 13 2020   /  02:01 am

President Joko “Jokowi” Widodo has instructed his Cabinet members to increase the availability of raw materials for the steel and iron industry to support infrastructure development while slashing imports.He expressed his concern during a limited Cabinet meeting on Wednesday, saying that steel and iron, as the third-largest import products in the country, contributed the most to the trade deficit.“We cannot allow this to keep on happening. We need to push for the steel and iron industry to become competitive and optimize its production,” Jokowi said at the Presidential Palace in Jakarta.Imports of iron and steel amounted to US$10.39 billion last year, slightly up 1.42 percent year-on-year (yoy), Statistics Indonesia data show. Despite recording relatively small growth, iron and steel products are the only Indonesian import commodities that saw an expansion during the period, whic...