Jakarta (VNA) – Indonesiahas revised investment target in energy in 2020 to 35.9 billion USD from 31.9billion USD set previously, according to the Ministry ofEnergy and Mineral Resources.
It is higher than the33.4-billion-USD goal the Indonesian government set for 2019.
It consists of 13.8 billionUSD in investment in oil and gas; 12 billion USD in electricity; 7.8 billionUSD in minerals and coal; and 2.3 billion USD in renewable energy andconservation.
The government is encouragingeconomic growth and national employment by raising the target this year, saidMinister of Energy and Mineral Resources Arifin Tasrif. As the energy sector plays a strategic role in boosting thecountry’s economy, the government would try to make the investment climate moreconducive for investors, he added.
As many as 186 investment permits willbe cut, the minister continued, since the permit became the main reason behindthe realisation of investment in energy below the target last year.
The non-tax staterevenue from the energy sector only reached 172.9 trillion IDR(about 12.49 billion USD)compared to thetarget of 214.3 trillion IDR.
To fulfil this year’s target,the ministry will implement strategic programmes and policies includingaccelerating refinery projects, launching oil and gas data access, capping theprice of coal at 70 USD per tonne for power generation and replacing the use of fuel at plants./.
It is higher than the33.4-billion-USD goal the Indonesian government set for 2019.
It consists of 13.8 billionUSD in investment in oil and gas; 12 billion USD in electricity; 7.8 billionUSD in minerals and coal; and 2.3 billion USD in renewable energy andconservation.
The government is encouragingeconomic growth and national employment by raising the target this year, saidMinister of Energy and Mineral Resources Arifin Tasrif. As the energy sector plays a strategic role in boosting thecountry’s economy, the government would try to make the investment climate moreconducive for investors, he added.
As many as 186 investment permits willbe cut, the minister continued, since the permit became the main reason behindthe realisation of investment in energy below the target last year.
The non-tax staterevenue from the energy sector only reached 172.9 trillion IDR(about 12.49 billion USD)compared to thetarget of 214.3 trillion IDR.
To fulfil this year’s target,the ministry will implement strategic programmes and policies includingaccelerating refinery projects, launching oil and gas data access, capping theprice of coal at 70 USD per tonne for power generation and replacing the use of fuel at plants./.
VNA
