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Rabu, 24 Mei 2023

Hosting the British Minister, Bahlil Wishes to Take Advantage of British Technology for Downstream and Renewable Energy

Jakarta, May 24th, 2023 - The Minister of Investment/Chairman of the Investment Coordinating Board (BKPM) Bahlil Lahadalia received a working visit by the British Minister of State for Industry in the Department for Business and Trade Nusrat Ghani at the Ministry of Investment/BKPM office this afternoon (24/5). The meeting discussed downstream investment opportunities in the critical mineral sector, the development of electric batteries, as well as investment in new and renewable energy. Also attending this meeting were the British Ambassador to Indonesia and Timor Leste, Owen Jenkins and also a number of officials from the Ministry of Investment/BKPM.

Minister Bahlil revealed that Indonesia has enormous raw material potential to support the electric vehicle battery and renewable energy industries. The Indonesian government encourages the down streaming of mineral resources while still prioritizing the environment and using new and renewable energy.


“We want to invite foreign investors to build an industry here, the products are exported, and the environment is reserved. We want to explain downstream that applies environmentally friendly principles to achieve net zero emission. How about using technology from England? Then we combine it with raw materials from Indonesia," said Bahlil.


British Minister of State for Industry in the Department for Business and Trade Nusrat Ghani welcomed Bahlil's idea and stated that she was ready to match British companies that could assist Indonesia in terms of down streaming. In addition, the UK also desires support for investment in the mining sector.


“The British government wants to diversify raw materials for critical mineral resources, especially those used for solar panels and electric car batteries. We encourage Indonesia’s policies and we are ready to support Indonesia in terms of technology to achieve targets of net zero emission with due observance of applicable environmental standards," said Nusrat.


Critical minerals are future minerals needed, following technological developments to obtain cleaner energy. This mineral can be used in electric motor vehicles and various other purposes.


The Indonesian and British governments agreed to discuss further cooperation on the use of new technologies for new, renewable energy in order to achieve the Sustainable Development Goals (SDGs) and the target of Net Zero Emission (NZE) by Indonesia. These steps have not only reinforced the economic relations between Indonesia and the UK but also strengthened the position of the two countries on the global stage.


Based on the Ministry of Investment/BKPM's investment realization data of 2022, the UK is ranked 10th for countries of origin of Foreign Direct Investment (PMA) with a value of US$628.3 million. The main British investment sectors in 2022 are the crops, plantations, and livestock sectors with an investment value of US$146.2 million or 23.3%, followed by the paper and printing industry, then other service sectors, the mining sector, and the food industry. Locations of investment realization from the UK for the same period were mostly outside Java (69.4%) namely on the island of Sumatra (41.3%) and then followed by the island of Java (30.6%). (*)


For further information, please contact:

Ricky Kusmayadi

Head of Communication and Information Services Bureau

Ministry of Investment/BKPM

Jl. Gen. Gatot Subroto No. 44 Jakarta 12190

Email: rickykusmayadi@bkpm.go.id



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