Minister Luhut Sets 4 Investment Requirements in Indonesia

19 November 2019 17:51 WIB

TEMPO.CO, JakartaCoordinating Minister for Maritime and Investment Luhut Binsar Pandjaitan explained four requirements for investors to invest in Indonesia. Luhut believed those conditions will provide benefits to the country, as well as the sustainability of the people’s lives.

“First, we will not accept an investment if investors do not bring first-class technology,” said Luhut during his speech as a keynote speaker at Institute for Essential Service Reform in Jakarta, Tuesday, November 19.

He assured no investor will offer second-class technology to the country.

Secondly, Luhut added, investors are required to carry out the transfer of technology.

According to the Coordinating Minister, this breakthrough will affect domestic workers as they will be exposed to new technology entering the country.

Luhut explained that the government is building a lithium battery project in Morowali, Central Sulawesi. The factory will use 70 percent of raw material from the archipelago.

The government eyes to own lithium batteries for electric vehicles in 2021 or 2022 following the factory construction.

Additionally, the third requirement is the investment must be packed with added value for Indonesia, such as Freeport, which its huge added value was just known recently. 

The last requirement is investors must be willing to establish a business to business (B2B) partnership, Luhut Pandjaitan concluded.

BISNIS

Supreme Court Rules in Favor of Nickel Firm Over Row with State Minister

1 hari lalu

Supreme Court Rules in Favor of Nickel Firm Over Row with State Minister

Supreme Court denied the Investments Minister's cassation over a dispute with nickel firm Toshida Indonesia.


Jokowi-Putin Meeting Deemed to Discuss More on Investment than Peacekeeping Mission

3 hari lalu

Jokowi-Putin Meeting Deemed to Discuss More on Investment than Peacekeeping Mission

The meeting between Jokowi and Putin at the Kremlin on Thursday was considered to discuss more of Russia's investment opportunities in Indonesia.


Putin Shows Interest in Developing Nuclear Industry in Indonesia

4 hari lalu

Putin Shows Interest in Developing Nuclear Industry in Indonesia

In a press statement alongside President Jokowi, Russian President Vladimir Putin expresses interest in investing in nuclear industry in Indonesia.


Indonesia Aims to Introduce Remote Surgery in 2025

5 hari lalu

Indonesia Aims to Introduce Remote Surgery in 2025

Hasan Sadikin general hospital robotic surgeon says that remote surgery with robotic technology in Indonesia will start as early as 2025.


Indonesia Sets Ambitious Plan to Increase Electric Vehicle Sales By 2030

6 hari lalu

Indonesia Sets Ambitious Plan to Increase Electric Vehicle Sales By 2030

Indonesia has set an ambitious goal to raise the market share of electric vehicles in Indonesia to 25 percent of total vehicle sales in 2030.


Bappenas Devises New Capital City Investment Guidelines

22 hari lalu

Bappenas Devises New Capital City Investment Guidelines

Bappenas is currently devising investment guidelines for Indonesia's new capital city of Nusantara (IKN) as investors start to approach.


Borobudur New Entry Fee Plan Based on UNESCO Study, Says Luhut

25 hari lalu

Borobudur New Entry Fee Plan Based on UNESCO Study, Says Luhut

Minister Luhut Panjdaitan claims the controversial plan to increase entry fees to Borobudur temple is based on studies by UNESCO.


Bahlil: EV Battery Makers LG, Foxconn Will Invest in Batang Industrial Estate

27 hari lalu

Bahlil: EV Battery Makers LG, Foxconn Will Invest in Batang Industrial Estate

Minister Bahlil Lahadia said that 1,000 hectares of land for the second phase of Batang Integrated Industrial Estate (KITB) in Central Java


Govt Suspects Monopoly in West Javan Cooking Oil Distribution

29 hari lalu

Govt Suspects Monopoly in West Javan Cooking Oil Distribution

Minister Luhut Pandjaitan suspects a cooking oil distributor is responsible for a monopoly of the commodity's supplies in the West Javan market.


Bank Indonesia: Insurance Industry Total Asset Reach Rp1,637 Trillion

35 hari lalu

Bank Indonesia: Insurance Industry Total Asset Reach Rp1,637 Trillion

Bank Indonesia reports that the total asset from the insurance industry as of March 2022 reached Rp1.637 trillion.