Jokowi Urges OJK to Better Support Mineral Downstream Strategy

TEMPO.CO, Jakarta - President Joko “Jokowi” Widodo on Monday asked the Financial Services Authority (OJK) to support the government’s policy to downstream the mineral mining industry. He claims that he still hears news about corporations finding it hard to build smelters in Indonesia. 

This was mentioned by the President in an OJK event that is touted as the ‘Annual Financial Services Industry Meeting 2023.’

“I still hear complaints from those that want to build smelters that are faced with difficulties in finding funding. They must be supported but with meticulous calculation and caution as this downstream strategy is key for our country to leap forward as a developed nation,” said the President on February 6.

He insisted that Indonesia has struggled as a lower middle-income nation up to 2018 and saw that status improve to an upper middle-income nation the following year in 2019.  However, this status was degraded to a lower middle income again due to the pandemic before being elevated once again to a higher middle income in 2022. 

This is what we must consistently push because our GDP (Gross Domestic Product) continues to rise. So we really hope we can jump forward. Downstream is the key if we want to become a developed country," said Jokowi.

He then stressed that the downstream program would be encouraged in all commodities, be it Crude Palm Oil (CPO), mineral, and coal, as well as marine resources which are the focus of the government. 

AMELIA RAHIMA SARI

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