Gov’t Focuses on Downstream Sector, Sustainable Industrialization

President Prabowo receives report from downstream task force and related ministries on investment progress in downstream sector, at the Merdeka Palace, Jakarta, Monday (03/03) (Photo by: BPMI of Presidential Secretariat)

President Prabowo Subianto Monday (03/03) received report from the downstream task force and several ministries on investment progress in the downstream sector including prospective strategic projects that will be implemented to boost the industry and stimulate national economy, at the Merdeka Palace, Jakarta.

Minister of Investment and Downstream/Head of the Investment Coordinating Board, Rosan Roeslani, after the meeting said that the Government is reviewing multiple downstream projects ranging from mineral, coal, agricultural, and marine products and assessing their impacts to the economy, job creation, and export and import volume, as well as its financing readiness.

He added that the Government has also set a target of only implementing downstream projects with short-term benefits and contributions to positive and sustainable industrialization. For that reason, a set of evaluations will be made to ensure that the investments yield optimal results.

“All ministries will join a panel and discuss the projects in more detail and make them feasible. It is because investments must also ensure a good and acceptable return, as this will involve a lot of funding, for example, from Danantara,” he said.

To mitigate risks, each project will undergo a thorough evaluation process, including a review of investment commitments and due diligence. A team from the Investment Committee and Audit Committee of Danantara, Indonesia’s new sovereign wealth fund, will carefully assess all aspects before granting approval for the project’s execution.

He went on to say that job creation was also the main focus of President Prabowo during the discussion. The joint team will also assess project’s impact to job creation and will give the report to the President.

Through a well-developed downstream strategy based on sustainable industries, the Government is confident that this program will positively impact the national economy and Indonesia’s competitiveness in global market. (BPMI of Presidential Secretariat) (RAS/MUR)