Indonesia Economic Development Through Downstream Industries
In the continuous effort to boost Indonesia’s economic growth, President Joko Widodo has stated that there are three economic strategies: the green economy, the digitalization of micro, small and medium enterprises (MSMEs), and the development of downstream industries. The latter is a particular focus for the next year.
As stated by the Minister of Investment/ Chairman of BKPM, Bahlil Lahadalia, 2022 will be the year of downstream industries in Indonesia. Further, Lahadalia expressed that Indonesia should focus on processing commodities into ready-to-use products, starting from nickel.
Indonesia possesses 21 million tons of nickel, the largest reserve in the world. Downstream raw nickel into products such as electric car batteries will add value to the commodity and stimulate economic growth. Indeed, partnerships within the industry have already commenced— for example, the partnership between Indonesia’s State-Owned Enterprise and LG with the value of USD9.8 billion.
On downstream industries, three of Indonesia’s top focuses are the mining and mineral industry, the coal and fuel industry, and the agroindustry. The Minister of Industry Agus Gumiwang Kartasasmita, in Beritasatu Economic Outlook 2022 event last November, stated that the focus on downstream Indonesia’s raw commodities is also expected to increase the nation’s export capabilities and ability to compete in the international market. One of the targets regarding the downstream industries is that little by little, Indonesia will be able to stop relying on exports for commodities, like bauxite and tin.
DEGREE OF COMPARISON
Lihat Buku Learner's English Grammar Bab 14
CLASS WORK
Answer each of these question according to the above reading.
1. When has President Joko Widodo stated that there are three economic strategies?
2. Please tell about the three economic strategies.
3. What is a particular focus for the next year.?
4. Who is Bahlil Lahadalia?
5. What does Indonesia possess according to the reading?
6. Please tell the three of Indonesia’s top focuses on downstream industries.
7. Who is The Minister of Industry?
