Indonesia’s metal industry investment reaches 6.7 bln USD in 2020

Jakarta (Indonesia Window) – Indonesia’s investment value realization of the base metal industry, metal goods, not machinery and equipment reached 94.8 trillion rupiahs (some 6.7 billion U.S. dollars) in 2020, or 11.5 percent of the total national investment value, according to data from the Investment Coordinating Board.

“The growth of investment in the metal industry sector is in line with the government’s desire to strengthen the national downstream industry,” Indonesian Industry Minister Agus Gumiwang Kartasasmita said in a written statement here on Tuesday (Jan. 26).

In addition, he added, the limitation of mineral exports has boosted investment in the metal manufacturing sector.

According to him, the Ministry of Industry is targeting the investment in the manufacturing sector in 2021 amounting to 323.56 trillion rupiahs (some 23.04 billion U.S. dollars). This optimism is supported by the implementation of the Job Creation Law and the improvement in the world economy after COVID-19 vaccination.

Agus said several preferred sectors to invest this year, including the food and beverage industry, basic metals, automotive, and electronics.

“We will also boost, among others, the development of investment in the pharmaceutical and medical device industries,” he said.

Those sectors are priorities in the road map for Making Indonesia 4.0.

Reporting by Indonesia Window