Since the beginning of his reign, one of President Joko Widodo's obsessions has been to optimize added value within the country to encourage domestic production and national economic growth. One of the consequences is import substitution.
SKK Migas is assessing the potential oil reserves in the Zulu Field, which presents significant opportunities yet poses challenges, including concession areas within national parks.
President Jokowi appointed Investment Minister Bahlil Lahadalia to lead the task force to expedite sugar and bioethanol self-sufficiency, reviving the old food estate plan in Merauke, Papua.
The negotiations between Axiata and Sinar Mas regarding the merger of XL and Smartfren are reportedly intensifying. Given the tighter competition landscape, with a new challenger, Starlink, entering the mark, the urgency for consolidation might increase.
China is set to develop rice farming in Central Kalimantan, aiming to remedy the shortcomings of the food estate project in peatlands. Local partners are being sought.
The Indonesian government continues to endorse direct exports as a means of further reducing logistics costs. Export logistics costs are reported to have moderated to around eight percent of GDP.