To boost its economy, Indonesia wants to move away from exporting raw materials, to focus instead on developing its downstream industries.
:"Indonesia always exports raw materials, while it is better to process and consume them through downstream industry or domestically."in January 2020, and the government has pledged to the gradually stop exporting other raw materials too.
The move downstream is expected to create jobs, increase profit margins for the sector, as well as cut down on carbon emissions. "Subsequently, it will create jobs ... it will generate tax income for the country, and new business opportunities, for instance, domestic companies that will export nickel ore," the president said.Indonesia has set its sights on three key sectors for downstreaming: the mining and mineral industry, the coal and fuel industry, and the agroindustry.
Indonesia hopes to transform raw nickel into higher end products like lithium batteries for electric cars — a move the investment board said will eventually bring economic growth.
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