Energy, mineral investment in quarter III amounts to US$19.8 billion

Energy, mineral investment in quarter III amounts to US$19.8 billion
Illustration. ((Photo by Héctor J. Rivas on Unsplash)

Jakarta (Indonesia Window) – Until the third quarter of 2019 investment in the energy and mineral resources sector reached US$19.8 billion, according to the Government News Network (JPP) as quoted here on Friday.

The largest amount of investment came from the oil and gas subsector at US$ 8.1 billion, the electricity subsector at US$ 7.4 billion, minerals and coal at US$ 3.3 billion and new renewable energy at US$ 1 billion.

“The energy and mineral resources sector is very strategic in boosting the national economy. We will continue to maintain our investment to be more passionate and more conducive for investors,” said the Head of the Communication Bureau, Public Information Services, and Cooperation of the Ministry of Energy and Mineral Resources, Agung Pribadi.

A total of 186 licensing regulations in the sector have been trimmed to speed up and simplify the investment process.

“Licensing rules for both the process and the bureaucracy will continue to be evaluated, so as to encourage faster investment and provide certainty. This investment is important because it will encourage employment opportunities, so that it becomes the main driver of an effective national economy,” Agung said.

The investment target of the sector until 2019 is around US$33 billion.

Reporting by Indonesia

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