Get An Investment Target Of 5.01 Billion US Dollars, Director General Of Mineral And Coal Improves Governance

Illustration. (Photo: Doc. Ministry of Energy and Mineral Resources)

JAKARTA - The Ministry of Energy and Mineral Resources through the Director-General of Mineral and Coal is targeting incoming investment this year to reach US$ 5.1 billion, which is higher than last year. To achieve the target, the Directorate General of Mineral and Coal began to improve governance by providing legal certainty to potential investors.

The Director-General of Mineral and Coal at the Ministry of Energy and Mineral Resources, Ridwan Djamaluddin, said that the Director-General of Mineral and Coal is optimistic that he can achieve the investment target, considering that the previous year's realization reached the target that had been set.

"It is recorded that the realization of investment in the mineral and coal sector in 2021 is 4.51 billion US dollars or 105 percent of the target of 4.3 billion US dollars," he said at a press conference on the performance of the Director-General of Mineral and Coal, Thursday, January 20.

To achieve this target, the Ministry of Energy and Mineral Resources has established the Ministry of Energy and Mineral Resources Omnibus Law which is believed to be able to realize certainty, ease of doing business, and compliance of mining business actors in the mineral and coal sub-sector with the stipulation of a number of Ministerial Decrees (Kepmen).

One of the decrees stipulated was the Decree of the Minister of Energy and Mineral Resources No. 221.K/HK.02/MEM.B/2021 related to the implementation guidelines for the transfer of IUP/IUPK, as well as the transfer of some WIUP/WIUPK to IUP/IUPK owned by BUMN.

This policy also includes other stipulations such as Decree of the Minister of Energy and Mineral Resources Number 13.K/HK.02/MEM.B/2022 concerning Guidelines for Prohibition of Sales to Overseas and Guidelines for Imposition of Fines and Compensation Funds for Fulfilling Domestic Coal Needs.

"We are also aware of the ongoing pandemic, so we are also anticipating it," he added.

Not only that, but Ridwan also admitted that his party is intensively promoting overseas to attract investors to enter and establish their business in Indonesia.

"We do virtual promotions to potential locations such as America, Australia, Canada and several other countries. We offer potential projects for promotion," said Ridwan.