Indonesian government cabinet reviews downstream industry projects

The Indonesian government is reviewing a variety of downstream projects, including minerals, coal, agricultural products and seafood.President Prabowo received a report from the Downstream Working Group and relevant ministries on the development of investment in the downstream sector, at which the Working Group reported on a number of strategic projects to boost industrialization and national economic growth. The Minister of Investment and Downstream said the projects look at the impact on job creation, increased exports and reduced imports in addition to economic aspects. The Government's objective is that the projects will not only provide short-term benefits but also contribute to healthy and sustainable industrialization, and assessments will be conducted at various stages to ensure that investments have the best impact. As a risk mitigation measure, each project would be subject to rigorous evaluation, including investment commitments and due diligence. The President also emphasized the importance of projects for job creation, which was also a focus of discussion. Through a mature and sustainable downstream strategy, the government is optimistic that the program will have a positive impact on the national economy and enhance Indonesia's competitiveness in the global market.