Bamsoet Calls Indonesia's Natural Resources Helpless In Facing Global Economic Conditions

MPR Chairman Bambang Soesatyo (Photo: Antara)

JAKARTA - Chairman of the People's Consultative Assembly (MPR) Bambang Soesatyo alluded to Indonesia's natural wealth. He said, Indonesia's natural resources (SDA) are now powerless to face the global economy.

This was conveyed by Bamsoet at the 2023 MPR/DPR/DPD annual session, at the DPR Building, Parliament Complex, Senayan, Jakarta, Wednesday, August 16.

Initially, Bamsoet, Bambang Soesatyo's nickname, said that Indonesia's national development had depended on the carrying capacity of natural resources. This has been going on since Indonesia's independence.

"At the beginning of independence until the 90s, natural resources in the form of crude oil, natural gas and coal as well as other natural products, became the main support for foreign exchange sources that had consequences for monetary stability," said Bamsoet.

However, according to Bamsoet, the current condition is different from the situation. He assessed that currently Indonesia's natural wealth is now powerless to deal with the global economic situation.

"However, this enormous natural wealth is helpless in the midst of a global situation that has changed and spawned a major economic storm in the region," he explained.

Therefore, said Bamsoet, it is necessary to realize that Indonesia cannot now rely on raw natural resources. The government has worked hard and convinced all stakeholders to actively participate in the downstream process, by investing directly in Indonesia to build, and develop domestic industrial capacity, as an absorber of mineral sources.

The existing natural resources must be able to be managed alone in the country, so as to produce products that have a higher selling value, and benefit domestic economic growth. Downstream industry is an effort to realize an efficient and fair national economy as mandated in Article 33 of the 1945 Constitution," he said.