According to report from Kompas, the Minister of Energy and Mineral Resources (ESDM) has reiterated that Indonesia is still an attractive market share for investors, especially in the energy sector.
At the side event of the B20 Summit forum, Signing Agreement B20 Task Force, Sustainability & Climate Business Action, Arifin witnessed the signing of Memorandum of Understanding (MoU) of several business players (B to B) in the energy sector.”
The signing of this MoU is an important moment, because it shows a willingness to realize investment in Indonesia, and shows how Indonesia is a country that is still attractive to investors,” Arifin said in a press release, Tuesday (15 /11/2022).
Arifin said that Indonesia has the potential of energy resources and natural resources that are very abundant and diverse, but still cannot be utilized optimally. Given the limited access to technology and finance to manage it, report Kompas.
Arifin also said that by setting a target of Net Zero Emissions (NZE) in 2060, Indonesia would need a very large investment. In fact, Indonesia has made a roadmap in stages up to 2060 to achieve the NZE target.
He added, the government had carried out regulatory reforms to create a more conducive investment ecosystem, such as simplifying licensing and investment requirements. “Incoming investment will have an impact on creating jobs, increasing economic growth, and increasing technological development,” he stressed.
Kompas report that several agreements were signed including:
- The MoU on Development of a Clean Ammonia and Hydrogen Value Chain, between PT Pertamina (Persero) and Saudi Aramco.
- The Definitive Cooperation Agreement Pomalaa High Pressure Acid Leach (HPAL) Project between PT Vale Indonesia and Zhejiang Huanyo Cobalt Ltd.
- The MoU Acceleration of Clean Energy Related Projects between PT Pertamina (Persero) and the Japan Bank for International Cooperation.
- The Gas, LNG and Company Capacity Building MoU between PT Pertamina Gas Negara and Botas.
- The MoU Accelerating of Battery Energy Storage System (BESS) Application on Transportation Modes between Indonesia Battery Corporation and Contemporary Amprex Technology