Jokowi Invites Investors to Develop Indonesian Asphalt Industry

By Editorial Team 12/10/2022
investment magnet
Summary

President Joko Widodo will ban asphalt imports starting in 2024, considering that asphalt reserves in Buton, Southeast Sulawesi, are about 662 million tons. He said in the past, Indonesia managed to process asphalt domestically, but it stopped because importing asphalt was cheaper. "As a result, 95 percent of our asphalt is imported," the president stated on Tuesday.

He wants all projects to use asphalt produced from Buton once the ban is in effect. Therefore, he offers investors the opportunity to develop the industry in the area. "Build the Buton asphalt industry, the market already exists," he said while suggesting that the ban is part of the government's attempts to develop Indonesian downstream sectors. However, he also demands interested investors team up with local businesses to build the asphalt industry.

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