Luhut Is Said To Only Open Investment Space With China: That's Not True, We Are Also Open To The UAE To The UK

Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan. (Photo: Doc. Kemenko Marves)

JAKARTA - Coordinating Minister for Maritime Affairs and Investment Luhut denied that Indonesia was only opening up investment space with China. He said that the government is also open with other countries, one of which is the UK to the United Arab Emirates (UAE). This step was taken to encourage downstreaming in Indonesia.

"So now don't think we only cooperate with China, that's not true. We also cooperate with any country," he said in a virtual discussion, Wednesday, November 24.

Luhut said cooperation with the UK was carried out for battery, cathode and precursor products. Meanwhile, cooperation with Abu Dhabi will also be carried out by bringing the aluminum industry to the Integrated Green Industrial Park, North Kalimantan.

Furthermore, said Luhut, the groundbreaking or laying of the first stone for the cooperation project with Abu Dhabi will be carried out on December 16, 2021.

"The government encourages investment cooperation with various countries, one of which I mentioned is the United Arab Emirates. The visit of the United Arab Emirates last November resulted in investment commitments of USD 44.6 billion in various fields, most of which were asked to be channeled through Indonesian investment management institutions," he said.

According to Luhut, the government's efforts to increase investment in the country are carried out through simplification of licensing through Law No. 11 of 2020 concerning Job Creation. With this law, Luhut said he was optimistic that he could improve the investment climate in the country.

"With this, we are optimistic that we can improve the investment climate in Indonesia, so that it can attract more investors to Indonesia," he said.

Furthermore, said Luhut, efforts to attract investment are also carried out in the context of economic transformation. He emphasized that efforts to downstream natural resources enable Indonesia to become an important player in the electric vehicle supply chain.

"The president has given directions for nickel ore, bauxite, copper, tin. From these four, we can change Indonesia going forward," he said.