Gov’t Reaffirms Commitment to Downstream Industry
President Joko “Jokowi” Widodo reaffirmed the Government’s commitment to industry downstreaming policy to boost the domestic value added.
“There is no country or international organization that can stop our measures in industrialization to transform export of raw materials into semi-finished goods or finished goods. We aim to boost added value creation in this country,” the President said in Jakarta, Thursday (08/10).
For the record, since January 1, 2020, the Government has stopped exporting nickel ore. On June 10, 2023, the Government imposed a policy banning the export of bauxite ore. The Government will also stop raw copper exports.
The President also stated that the export ban on raw materials has significantly increased the value of exports.
“The export value from nickel raw material was approximately Rp 17 trillion a year. After the downstreaming, the value become Rp 510 trillion,” the President said.
The President further said that the increase in export value also boosted state revenue, including the value added tax (PPN), income tax (PPh) and non-tax state revenue (PNBP). (AIT/UN) (RI/LW)