TheJakartaPost
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The senior investment minister has reiterated his stance that he would not join the cabinet of the incoming government but would be willing to fill an advisory role, saying that it was time to hand over the reins to the younger generation.
In a push for better governance of the mining industry, the government has expanded the Mineral and Coal Information System (Simbara) to now cover nickel and tin toward future expansion to other minerals. The decision to expand the tracking system to the two commodities stems from a recent tin corruption case that incurred state losses Rp 271 trillion (US$17 billion).
Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan has said that arbitration rules modeled after Singapore’s would create legal certainty to attract more investment, including family offices, to Indonesia.
The government aims to bring down the sulfur content in fuels sold in the country to no more than 50 parts per million (ppm), from the current approximately 500 ppm for gasoline and up to 3,500 ppm for the lowest grade of diesel.
The Trade Ministry says it will conduct a wide-ranging investigation into seven industries that have suffered heavy job losses in recent months, including textiles and apparel, before making any decision on possible protective tariffs.
