President Prabowo Ensures Investment Certainty, Acceleration of Industry Downstreaming

Minister of Energy and Mineral Resources Bahlil Lahadalia reports updates on a number of strategic projects discussed in a limited meeting at the Merdeka Palace, Jakarta (02/11).

President Prabowo Subianto chaired a limited meeting with a number of Red and White Cabinet ministers at the Merdeka Palace, Jakarta (02/11). During the meeting, the Head of State discussed the progress of a number of national priority programs, starting from food sector, energy sector, to industry downstreaming.

In energy and mineral resources sector, Minister of Energy and Mineral Resources Bahlil Lahadalia reported updates on a number of strategic projects, including mining activities in North Sumatra province. He mentioned that President Prabowo gave firm direction on legal certainty and investment protection.

“Mr. President has given his direction at the meeting to check if there are no violations, the investors’ rights must be restored, and if there is any violation commited, a sanction will be imposed proportionally,” the Minister said concerning Martabe mining in North Sumatra province.

According to Bahlil, the measure is taken to maintain the balance between law enforcement and investment sustainability. “We do it all in order to ensure investment and legal certainty as well as to maintain economic growth in the island of Sumatra,” he firmly stated.

Additionally, Bahlil also reported updates on downstreaming programs as part of the major agenda of national economic transformation. Bahlil added that a number of projects have already entered implementation phase, and his ministry has prepared new downstreaming programs to strengthen national industry independence.

“So, on Danantara, of 18 projects that have been planned, six of them have held a groundbreaking ceremony, and the remaining projects will hold it too in the near time,” he explained.

During the opportunity, Bahlil also reported preparation on energy supply prior to Ramadan month and Eid-al-Fitr. The Government ensures that the supply of oil and gas is secured and at the minimum level of national stock.

The direction of President Prabowo’s policies that was discussed in the meeting is focusing on economic stability, investment sustainability, and strengthening of national industry downstreaming. Amidst global dynamics, the Government continues to maintain the balance between legal certainty, development acceleration, and energy supply for the people. (Bureau of Press, Media, and Information of Presidential Secretariat) (AW/MMB)