Indonesia: Accelerated by Jokowi, the Minister of Industry shows off the success story of CPO downstream

Published 2022년 12월 21일

Tridge summary

The Indonesian government is focusing on downstream manufacturing sectors such as agro, mining, oil and gas, and coal-based industries to create added value and attract investment. The agro-industry, particularly palm oil, is a success story, with the sector creating 2.5 million direct jobs and supporting 21.4 million nationally. The export value of palm oil products is targeted to reach US$ 35-40 billion in 2023. The government also plans to ban bauxite ore exports from June 2023 to encourage domestic processing and refining. The downstream oil and gas project in Bintuni is also seen as a success, with plans to produce methanol and ammonia.

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Original content

Jakarta, CNBC Indonesia - Minister of Industry Agus Gumiwang Kartasasmita revealed that downstream is important for creating added value so as to be able to attract investment to create jobs. There are three manufacturing sectors that are currently the government's focus. Namely the agro industry, the mining and mineral materials industry, as well as the oil and gas and coal-based industrial sectors. "What's interesting is the success story of manufacturing in the agro-industry. The palm oil sub-sector has a clear added value," said Agus at the 2023 Indonesia Economic Outlook event, Wednesday (21/12/2022). He revealed, palm oil is one of the commodities that creates the most added value. Such as cooking oil, margarine, fatty acids, surfactants, to cosmetics. "For the ecosystem of the CPO (crude palm oil) sub-sector, we create a direct workforce of up to 2.5 million people and support 21.4 million people nationally," said Airlangga. From his presentation, until September 2022 ...

Source: Cnbcindonesia