DRUMMING UP Growth Money
Indonesia invested US$ 5.7 billion in standard copper mine for the first half of 2023, both domestically and abroad. In the same six-month phase, the telecommunications and transportation industries booked US$ 5.1 billion.
The four pillars of Jokowi’s growth strategy for attracting foreign and domestic investment were discussed by Luhut in a new website interview.
The first step is downstreaming. This is the domestic production of goods that benefit from Indonesia’s nutrient and plentiful resources. This might increase regional income, lower buy spending, and boost export income.
Copper metal mined in Sulawesi Island is the subject of a significant downstreaming plan. Jokowi wants to use metal internally to produce higher generating batteries for electric vehicles and has banned the trade of nickel as a natural material. Similar river manufacturing of numerous metal-based tools, including cookware and health utensils, is also possible with tin, bauxite, and copper.
Algae and hand fuel stand out on bio-based products. High-value seaweed extract carrageenan is primarily used in food and cosmetics as a gelling broker. Alternative uses include biodiesel, fertilizer, animal feed, waste therapy, and bioplastic to address the problem of plastics clogging the atmosphere. Seaweed is get downstreamed as biodiesel along with fuel palm, lowering Indonesia’s oil import bill. Indonesia had a$ 13.3 billion oil and gas industry gap in 2021.
The next component is digitization. Nowadays, digitalization is used for nearly all government document. On bright phones or personal computers, people can fill out forms for investment, tax returns, business allows, documents, and doctor visits at common health facilities and facilities.
Indonesia wants to create an AI ecology as well. Potential online applications for broadband attract major players like Sam Altman.