TERNATE - Deputy Minister of Energy and Mineral Resources (ESDM) Yuliot Tanjung explained the success of North Maluku achieved thanks to the nickel downstream program launched by the government. Yuliot said that investments entering North Maluku Province were recorded at Rp55 trillion. This figure is an investment achievement recorded from January to September 2024.
"North Maluku is an example of the success of the downstream program. What was previously North Maluku exports raw materials in the form of nickel ore, with the downstream program we produce nickel and cobalt," he said in Ternate, North Maluku, Wednesday, October 30.
Not only that, he said, downstreaming also succeeded in bringing North Maluku into the province with the highest economic growth rate in the world in 2023 reaching 20.49 percent. In fact, in 2023, economic growth was recorded higher than 24 percent.
"So in 2022 it will be even higher, about 24 percent more. Of course this is an impact of the downstream program," continued Yuliot.
Despite recording high investments, Yuliot said that the current downstreaming has only reached the first stage and will continue to the next stage.
For this reason, the ministry has also mapped industrial trees that can be carried out further downstreaming processes.
"Not only at the first level but we will enter the second stage, third stage, and fourth stage, so that the added value that occurs is greater in the regions, especially in North Maluku," explained Yuliot.
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Meanwhile, in terms of business actors, he hopes that the downstreaming that occurs will also have a positive impact because it has succeeded in involving regional business actors to create a good economy.
"So don't let the big ones enter without the involvement of business actors in the regions who will answer the increasingly unequal economic conditions in the regions," said Yuliot.
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