- 8 months ago
Wakil Menteri Energi dan Sumber Daya Mineral Yuliot Tanjung menyatakan, Satuan Tugas Percepatan Hilirisasi dan Ketahanan Energi tengah menyiapkan 35 proyek hilirisasi baru dengan nilai mencapai USD123,8 miliar atau lebih dari Rp2.000 triliun. Saat ini, Satgas Hilirisasi juga sedang melakukan persiapan dan konsultasi dengan sejumlah kementerian/lembaga terkait.
Adapun ke-35 proyek hilirisasi baru tersebut terdiri dari beberapa sektor strategis yaitu mineral, batu bara, minyak dan gas bumi, pertanian, serta energi. Dan, dengan adanya persiapan yang matang dan terintegrasi terhadap proyek-proyek hilirisasi, maka Pemerintah bisa segera memberikan penawaran kepada para investor potensial.
Sementara itu, Kementerian Investasi dan Hilirisasi/BKPM menargetkan investasi sebesar Rp13.032 triliun selama tahun 2025 hingga 2029. Nilai fantastis tersebut guna mendukung pencapaian pertumbuhan ekonomi sebesar 8% pada tahun 2029. Adapun terget realisasi investasi di tahun 2025 ini, diharapkan bisa mencapai Rp1.905 triliun.
Adapun ke-35 proyek hilirisasi baru tersebut terdiri dari beberapa sektor strategis yaitu mineral, batu bara, minyak dan gas bumi, pertanian, serta energi. Dan, dengan adanya persiapan yang matang dan terintegrasi terhadap proyek-proyek hilirisasi, maka Pemerintah bisa segera memberikan penawaran kepada para investor potensial.
Sementara itu, Kementerian Investasi dan Hilirisasi/BKPM menargetkan investasi sebesar Rp13.032 triliun selama tahun 2025 hingga 2029. Nilai fantastis tersebut guna mendukung pencapaian pertumbuhan ekonomi sebesar 8% pada tahun 2029. Adapun terget realisasi investasi di tahun 2025 ini, diharapkan bisa mencapai Rp1.905 triliun.
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TVTranscript
00:00In this program, we will be talking about the latest news on the Indonesian market.
00:20Hello viewers, how are you today?
00:22Live from Studio IDX Channel Jakarta, I am Prasetyo Wibowo,
00:26welcome back to Market Review, a program that discusses economic issues in Indonesia.
00:31You can also watch our live streaming on IDXChannel.com.
00:35Let's start our Market Review.
00:38Let's start our Market Review.
00:47The Association for Acceleration, Heliorization and Energy Preservation
00:51is preparing 35 projects that will be offered to investors
00:55with a value of more than 2 trillion rupiah.
00:59The 35 projects consist of the mineral sector, coal, oil and natural gas,
01:04as well as agriculture and energy.
01:09The Association for Acceleration, Heliorization and Energy Preservation
01:12is preparing 35 projects with a value of more than 2 trillion rupiah.
01:18We are preparing and consolidating them with the Ministry of Infrastructure.
01:23The projects that we are preparing are in the mineral sector,
01:32such as coal, oil and natural gas,
01:41and in the agriculture sector, we are preparing oleochemicals,
01:45and in the energy sector, we are looking at the possibility of accelerating energy production.
01:56This is the statement of Minister of Energy and Mineral Resources, Yulio Tanjung,
02:00about the Association for Acceleration, Heliorization and Energy Preservation,
02:04which is preparing 35 new heliorization projects
02:07with a value of US$123.8 billion or more than 2 trillion rupiah.
02:15Currently, the Heliorization Agency is also preparing and consulting
02:20with a number of related ministries.
02:24There are also 35 new heliorization projects
02:28consisting of several strategic sectors,
02:30namely minerals, coal, oil and natural gas, agriculture and energy.
02:37And with a well-prepared and integrated preparation
02:40for the heliorization projects,
02:42the government can immediately offer offers to potential investors.
02:48Meanwhile, the Ministry of Investment and Heliorization or BKPM
02:51targets an investment of 13,032 trillion rupiah
02:56for 2025 to 2029.
03:01These fantastic values are used to support
03:03the achievement of 8% economic growth in 2029.
03:10There is also a target for investment realization in 2025
03:13There is also a target for investment realization in 2025
03:16which is expected to reach 1,905 trillion rupiah.
03:23Jakarta in January on IDX Channel.
03:29Yes, the next thing we will say is related to the data
03:31on the realization of investment in Indonesia.
03:33We will observe the movement from 2018 to 2024.
03:38Yes, the movement, the trend continues to rise.
03:40Investment in Indonesia in 2024 reached 1,714.2 trillion rupiah.
03:49And next, the realization of investment in the heliorization sector.
03:53This is the data in 2024.
03:55Minerals reached 245.2 trillion rupiah.
03:59Then there is agriculture, forestry, oil and gas,
04:02electric vehicle ecosystem.
04:05These are some of the data that we have provided.
04:07And to discuss our topic this time,
04:10related to the government offering 35 heliorization projects
04:13worth 2 trillion rupiah,
04:16has been connected through Zoom with Mr. Joshua Pardede,
04:20head of PT Bank Permata TBK.
04:22Hello, Mr. Joshua, how are you?
04:27Yes, hello, Mr. Joshua.
04:29How are you, Mr. Pras?
04:30Good, thank you for the opportunity.
04:32And there is also Mrs. Meidy,
04:35Catherine Linkie,
04:40Hello, Mrs. Meidy, how are you?
04:42How are you, Mr. Pras?
04:43Good, thank you for the opportunity.
04:45And we will review this right away.
04:47It's interesting if we look at Mrs. Meidy,
04:49before discussing further,
04:50a review related to the performance of investment,
04:53especially those related to the Minerba heliorization program in Indonesia,
04:57what has it been like so far?
04:59Please.
05:01Yes, Mr. Pras, thank you.
05:03So if we review specifically,
05:05we talk specifically about nickel smelters,
05:09or mineral nickel,
05:11it is quite significant
05:14that the heliorization in the mineral nickel sector
05:18since 2020,
05:20we see very fantastic numbers,
05:23especially in 2022,
05:26sorry, yes, 2022,
05:28until 2024.
05:30Therefore, from all smelters or mineral fields,
05:32the biggest and most sexy,
05:35right, Mr. Pras?
05:36It's in nickel.
05:38Well, what we have to see
05:40is that the value of this very safe and fantastic investment,
05:43how does it affect the community?
05:45Because the purpose of the value-added or downstream program
05:48since the 4th Amendment in 2009,
05:51changed in 2003,
05:53the 3rd Amendment in 2020,
05:58even for a moment there is a revision,
06:00right, Mr. Pras?
06:01This 3rd Amendment.
06:03How does it affect,
06:04we see that it has an impact
06:06on the current heliorization that is underway.
06:09If we look at it,
06:11especially in North Malacca, Mr. Pras,
06:13the GDP has risen
06:15because there is a nickel heliorization program
06:18in North Malacca.
06:20Even quite significant,
06:22even up to 4%.
06:25But what is the purchasing power of the community there?
06:29What is the level of the community's economy in North Malacca?
06:33Well, maybe this is what we have to review first, Mr. Pras.
06:36The impact of the heliorization that has been going on,
06:39don't wait for the next one,
06:41but what has been going on,
06:43what is the impact of our economy?
06:45Is it from the nickel heliorization,
06:47the economic growth target according to President Prabowo's goals,
06:51we can reach 8%?
06:53And how long?
06:54To approach the 8% target.
06:56Just approach it first, don't target the 8%.
06:59Related to the current heliorization that is underway.
07:02Maybe that's what we have to look at first, Mr. Pras.
07:04Okay, okay, Mrs. Medina.
07:05From the economic viewpoint, Mr. Joshua,
07:07what do you see when it comes to investment?
07:10If we look at 35 new heliorization programs
07:13that will be released by the government,
07:15can this directly affect
07:18the absorption of labor,
07:20then the increase of the people's livelihood
07:23in an area that is indeed one of the programs
07:26for the development of heliorization there?
07:29Yes, as stated by the data also by Mrs. Medina,
07:34that the realization of investment,
07:36especially the heliorization of minerals,
07:38especially the base minerals, is very fantastic.
07:41And this is also related to the government policy,
07:45related to the ban on the export of nickel seeds.
07:48So if we look at the FDI,
07:51especially related to the smelter of nickel,
07:53this is very urgent.
07:55Especially in the areas of Central Sulawesi and North Maluku.
07:58However, in my opinion, as stated by Mrs. Medi,
08:01that even though the investment is high
08:05in the areas of East Indonesia,
08:07especially in the base minerals,
08:11but if we look at the impact on the pre-chromium,
08:15this is not that significant.
08:17Because most of the nickel seeds
08:21that are processed,
08:22PKRN nickel or ferronickel nickel,
08:24are directly exported to China in general.
08:27So the impact of the decline in the local community
08:31is not that significant.
08:33Because if we note,
08:34for example, growth in Central Sulawesi in 2024,
08:38this is almost 10%, 9.9% GDP.
08:41Then there is also GDP in North Maluku,
08:45about 13.7%.
08:47However, I really think that
08:49the impact on the consumption of the community
08:52in the region itself is not that significant.
08:54So the hope is,
08:56with the new investment,
09:00this will be able to accelerate further.
09:03The hope is, I see,
09:05we can extend it.
09:08Because as I said earlier,
09:11we are just talking about the realization,
09:13for example, in nickel,
09:14only with nickel seeds,
09:15until with PKRN nickel or ferronickel.
09:19But we haven't talked about
09:21the realization until the end product.
09:25Or for example,
09:26the battery in the electric car ecosystem.
09:31The funny thing is,
09:33most of the cars or the electric car industry
09:37from China to Indonesia
09:39is not largely LFP,
09:42the base material.
09:44So this is very ironic.
09:46And there are many,
09:48if we look at the implementation of this realization,
09:52we are still very far.
09:54It means that if the government can have
09:57a stronger bargaining position with the investors,
10:01so it can force these investors
10:04to be able to process further.
10:07So that the impact of the decline to the community
10:10and the expectation of the role of the local value chain
10:13can also be increased.
10:14So that the impact on the domestic economy
10:17is also expected to be even higher.
10:19Okay, this is interesting.
10:20We know that the government in this matter
10:22is also preparing for the task of accelerating
10:23hydrogenation and energy conservation.
10:26There are 34 new projects
10:28that will be offered to potential investors.
10:31US$123.8 billion.
10:35Is the momentum accurate?
10:36Or how about the existence of existing hydrogenation projects?
10:41We will discuss later in the next segment.
10:43Mr. Joshua Bumedi, we will break for a while.
10:45And investors, make sure you are still with us.
11:04We will continue this interesting discussion
11:07with Mr. Joshua Pardede,
11:08Mr. Bumedi, and Ms. Rengki.
11:10In response to the government's steps
11:13to prepare a new hydrogenation project,
11:15there are still several projects that need to be discussed.
11:19Mr. Joshua, what can you share with us?
11:23As I said earlier,
11:26new investments are important
11:29to achieve an 8% growth rate,
11:34which is the government's expectation.
11:36But again, can it be realized
11:39with the previous condition,
11:41the trickle-down impact on the consumption of the people
11:44is still low from the investment itself?
11:46Okay.
11:47And also, we haven't been able to optimize
11:50the impact of hydrogenation,
11:51because we are still in the first two steps.
11:53If we talk about just the basic minerals,
11:56especially nickel.
11:57We haven't talked about hydrogenation,
12:00for example, for copper,
12:02or for tin,
12:03or for bauxite, etc.
12:05I think we need to explore this further.
12:07It means that the hydrogenation is still in the middle.
12:12It means that we have to optimize it first.
12:17We have to maximize the hydrogenation first,
12:21so that we can increase the value of the investment.
12:26Because if we are in the reality
12:28that the new investment
12:30is just the same,
12:33just processing two steps at the beginning,
12:36for example, from nickel to ferronickel,
12:40there is no significant increase in added value.
12:47So, the investment,
12:49but the impact on economic growth
12:52I think will still be relatively limited.
12:54Okay, that's it.
12:55What do you think, Mr. Mehdi?
12:57Do we need to match
13:01the existing hydrogenation projects?
13:04There will be 35 new projects later,
13:06even though the sector is quite diverse this time.
13:10Yes, Mr. Pras.
13:11So, maybe if we talk about all the commodities,
13:14not just mining,
13:16there are many, right?
13:17From forestry, agriculture, all products.
13:19Yes.
13:20But let's try to highlight, especially for minerals.
13:23In nickel itself,
13:24Mr. Pras, for information,
13:25maybe I have repeatedly stated
13:27that our downstream success,
13:29downstream, midstream, sorry,
13:31midstream, it's not really down yet,
13:33it's really downstream,
13:34that we already have a 49-pyrometallurgy manufacturing plant
13:38that produces NPI up to stainless steel.
13:40Then we already have 6 H-PAL manufacturing plants
13:43for MHP steel, nickel sulfate,
13:46up to cathode battery.
13:48Even the amazing thing, Mr. Pras,
13:49we still have 36 that are still under construction,
13:53still under construction.
13:54Even those that are completing the permit
13:56there are about 40, 36 more.
14:00So, those that operate,
14:02totally, all of them,
14:03for nickel only, there are 147.
14:07Later on.
14:08But we see that those that are already operating
14:10there are 55,
14:11that is 49 pyrometallurgy,
14:136 hydrometallurgy.
14:15But from here alone,
14:17it has produced approximately
14:19186,618 workforce.
14:23Now this is what I said, impact.
14:25The impact first,
14:26then if from our side,
14:28how about stainless steel, Mr. Pras?
14:31If you look at it earlier,
14:3249 plus 6 that have been operating,
14:34plus 35 that are under construction,
14:37plus 36 that are completing the permit,
14:40so a total of 147.
14:42If all of them are producing,
14:45we are worried about the stainless steel reserve.
14:49It has always been assumed
14:51that the reserve will not be enough.
14:53It's true.
14:54It's very true
14:55that it will not be enough.
14:57Those that already exist,
14:58we are worried.
14:59Those that already exist,
15:00plus those that are under construction,
15:02it will eat stainless steel
15:05approximately up to 500 million tons
15:08of nickel per year.
15:09Wow, okay.
15:10If we add those who are in charge of the permit,
15:14or we still invite new ones,
15:16it's a pity,
15:17when they invest,
15:19there will be no stainless steel.
15:21What to invest here?
15:23Let's see again,
15:24the success of copper and bauxite.
15:27Copper, we already have two that are in production,
15:29two that are under construction,
15:31then we have bauxite.
15:32Bauxite, in total, there are about 16,
15:35where there are four that are in operation,
15:37then there are nine that are under construction,
15:39there are three more that are doing the permit.
15:42So, in total, all of these manufacturing factories,
15:46the focus we think of first
15:48is not just the value of the investment.
15:50Yesterday, I was a bit shocked
15:52with the news from the Minister of Investment
15:55that the price of nickel is going down,
15:58it's good, we said.
16:00If the price of nickel goes down,
16:02it means that investment continues to go in.
16:04Well, how can people invest
16:06if they are talking nonsense?
16:09How is the cost of production increasing?
16:11Maybe at the beginning I already said,
16:13in 2025, we got an amazing gift,
16:16a lot, both from B40,
16:18both from PPN 12%,
16:20from DHE Export 100%,
16:22then there is an increase in Royalty Nickel,
16:26up to 15%.
16:27Well, it means that the cost is increasing.
16:29Where is the price of nickel going down?
16:31We can see that until now,
16:33the price of nickel is still maintained at 15,000.
16:35It means that it doesn't make sense
16:37to do production.
16:39Well, how to invite new investment?
16:41Will investors see
16:45that if I invest in Indonesia,
16:47one, is the reserve enough with new investment?
16:50The raw material, the nickel.
16:52Then the second, green energy.
16:54Yesterday, we were heading to the Paris Agreement,
16:56we were focusing on IEC,
16:57where the coal power plant is no longer allowed,
17:00we have to be certified
17:02as a source of renewable energy.
17:05Where is the raw material?
17:08Apart from coal.
17:09Third, the cost of production is increasing
17:12and the market price is decreasing.
17:14Again, as an investor,
17:16of course I think,
17:18if I invest in Indonesia,
17:20it will be added with the inconsistency of the rules.
17:25This is what Mr. Pras is focusing on.
17:31I'm talking about nickel.
17:33How about other manufacturers?
17:35Maybe Mr. Joshua can answer.
17:37Yes, this is interesting, Mrs. Medi.
17:39Mr. Joshua, the challenge seems quite interesting
17:43if we look at 2025,
17:45if there are additional 35 projects
17:48from various sectors,
17:50including minerals.
17:52Earlier, you were worried about the availability of raw materials,
17:56how about the energy transition process
17:59that we are still working on, Mr. Joshua?
18:04Yes, I think,
18:06as Mr. Medi said,
18:08if we talk about realisation,
18:10it's not just limited to minerals.
18:14If we talk about agriculture, fisheries,
18:17I think there's still a lot we can explore.
18:21If we talk about food preservation,
18:25how we can increase food irrigation,
18:28and also oleochemical products,
18:31it's actually an effort to increase the added value of CPO, for example.
18:37And also, we can increase the added value of fish products,
18:42such as seaweed.
18:46I think we are also one of the world's largest seaweed producers,
18:51and we still can't increase the added value of the seaweed.
18:56So, it means if we can increase it,
18:59because if we talk about sector by sector,
19:03by share contribution,
19:05the first is manufacturing,
19:07and the second is our basic sector,
19:11our primary is still agriculture.
19:13But, the realisation of agriculture is still limited.
19:17So, I think,
19:19as Mr. Medi said,
19:23if we see too much investment in minerals,
19:27it's also a challenge.
19:29From the nickel seed side,
19:32the reserves will also decrease faster.
19:36So, the government should also be able to focus
19:40on hillarisation in other primary sectors,
19:44especially agriculture and fish.
19:47And I think this will be able to increase the added value even higher,
19:52because earlier it was for food preservation,
19:54and also to increase the welfare of farmers and fishermen.
19:57I think this will be able to increase the productivity of agriculture as well.
20:04Okay, so there are many other sectors that can still be activated
20:06for the hillarisation project in Indonesia,
20:08which will be offered to investors,
20:10and it is hoped that it will be able to contribute
20:12to the absorption of workers,
20:15how to see economic activities in the area
20:19or the place where the hillarisation project is located.
20:21It's also interesting,
20:22SADGAS will summarize the financing of the projects
20:26carried out in the country by promoting the involvement of national banks.
20:29We will discuss in the next segment,
20:31Mr. Joshua Bumedi,
20:32we will take a short break,
20:33and Mr. Mirsa, we will be back in a moment.
20:38Thank you for joining us in Market Review,
20:55and we will continue to discuss with Mr. Joshua Pardede,
20:58Chairman of PT Bank Permata TBK,
21:00and Mrs. Medy Katerina Lingki,
21:02she is the General Secretary of the Indonesian Nickel Miners Association.
21:05Mr. Joshua, the question is related to the financing
21:08of the hillarisation projects,
21:10which are expected to be involved by national banks.
21:16How do you see it?
21:17How big is the liquidity that must be owned,
21:19and then the ability of our banks,
21:21and how big are the projects that will be funded
21:24through hillarisation,
21:26or 35 projects that reach 2 trillion rupiah.
21:31Yes, Mr. Pras, we also need to understand
21:35the condition of the structure of third-party funds,
21:38banks in Indonesia,
21:40which is usually short-term,
21:43less than a year,
21:44if we can say,
21:46for example, the deposit is less than 12 months.
21:50However, if we talk,
21:52most of the credit distribution
21:55is also dominated by the working credit,
21:58maybe 1-3 years.
22:00But if we talk about financing,
22:03related to the financing project,
22:05for the construction of the smelter,
22:08I think it needs a very large investment,
22:11the investment,
22:12or the credit distribution of the investment.
22:15And this term is very long,
22:17it can be 15-20 years,
22:19and also in terms of liquidity,
22:22in the denomination,
22:23this is also usually in the dollar denomination.
22:27Therefore, if we look at the reality,
22:31the investment that comes in,
22:33or the construction of the smelter that exists now,
22:36this is quite dependent on foreign investment.
22:39So, the role of banks,
22:42because there is mismatch liquidity there,
22:47even if it is possible,
22:49there is a credit,
22:53for example, syndication.
22:55Even though the Bank of Indonesia
22:57has issued the KLM policy,
22:59the macro-prudential policy,
23:02which provides incentives for GWM cancellation
23:05if the bank transfers the credit to the leasing sector.
23:12However, once again,
23:14the risk of liquidity that must be mitigated by banks
23:18is also quite large.
23:20Even though the liquidity condition is far,
23:24I can say that it is ample but tight.
23:28Because if we look at it from the LDR angle,
23:35the trend is indeed increasing at the moment.
23:38And the other conditions also show that
23:42the sources of funding,
23:44especially for example,
23:46FALAS liquidity is also quite limited.
23:49That's why yesterday,
23:52the government also initiated the DHA policy
23:58to increase FALAS liquidity.
24:01Because for the financing of the financing project
24:03for the development of the smelter,
24:05it requires a large investment in dollars.
24:08So, once again, in terms of feasibility,
24:12the feasibility was made possible by the syndicated loan
24:17and also requires a large amount of FALAS liquidity
24:22to be able to provide funding
24:25to the financing projects for the development of the smelter.
24:28Okay, Mr. Joshua.
24:29Mr. Mehdi, if we look at it this far,
24:32for the financing of smelter projects
24:35or even talking about hillarization in minerals,
24:38does the financing depend on the FDI directly
24:41or is there a connection from the local financial industry or banks?
24:48Yes, Mr. Pras.
24:49Maybe the word rely is not accurate,
24:52but it's the ability of Indonesia itself.
24:56Because if we talk about investment,
24:58especially nickel, for example,
25:00we see for ourselves that the investment
25:02which is already a fantastic number,
25:04which has been realized in Indonesia,
25:07is an extraordinary number.
25:10If we look at it,
25:12it's already more than 100 trillion,
25:14150 trillion more.
25:16Realization of investment, especially in nickel processing.
25:19I'm talking about nickel.
25:21Now, let's calculate, Mr. Pras.
25:22How much per line do we need
25:24if we want to invest in pyrometallurgy?
25:26One line is at least 50 million dollars.
25:28That's just one line, just the stove.
25:30How about the operational cost?
25:33Then how about the infrastructure?
25:35It means that to invest in just one line,
25:38for pyrometallurgy,
25:39we need around 100 million US dollars per one line.
25:43In Indonesia, there are already several lines,
25:45more than 200 existing lines.
25:47How about ESPAL?
25:48ESPAL is twice the investment of pyrometallurgy, Mr. Pras.
25:51Okay.
25:52We once had a discussion with several banks
25:54in the media by Bank Indonesia.
25:56At that time, we repeatedly asked
25:59about the readiness of Indonesian banks
26:01in financing the existing smelter-smelter nickel.
26:06It turned out that, to Mr. Yesoai,
26:08we need to talk about a consortium.
26:10Because only one bank is not able to finance it.
26:13That's just the capex.
26:15How about the opex?
26:17Secondly, how about the challenges,
26:19as I said earlier,
26:20the inconsistency of the regulation?
26:23So, of course, from each comparison,
26:25there may not be a suitable system,
26:27because for them,
26:28the mining is not ours.
26:29The mining is only given by the state,
26:33but the mining itself belongs to the state.
26:35It can be removed at any time.
26:38So, the certainty about the asset or liquidity
26:42must be discussed first.
26:45It must be managed or mixed first
26:48the system of the Ministry of Finance,
26:51not only the Ministry of Finance,
26:52which is in Indonesia,
26:53with the banking system.
26:55Secondly, about the rate, Mr. Pras.
26:58Because, as I said earlier,
26:59where the cost is high,
27:01while the market price is fantastic,
27:04it keeps going up and down.
27:05Are we able to cover,
27:07especially from the rate,
27:09just pay the interest,
27:10just pay the interest,
27:11Mr. Pras, that's the cost.
27:12Well, as I said earlier,
27:14it's not that we depend on it,
27:16but do foreigners want to see an opportunity
27:20where they see that
27:23Indonesia is fast if we invest.
27:26They don't see the regulation,
27:28they don't see the inconsistency,
27:30they don't see how much,
27:32for them, one is the raw material, Mr. Pras.
27:34And the second is how long.
27:37This is what must be respected
27:39by the banking system later
27:41in terms of financing.
27:43Once again, the financing of hillarization.
27:45But please, don't focus on nickel anymore.
27:47Now we want to invite investors
27:49who can make a product, ready-to-go.
27:51Whether it's stainless steel with its derivative product,
27:54whether it's battery,
27:55up to the EV,
27:56but the supply chain first
27:58that must be maintained,
27:59the management and the business order.
28:00This is the most important thing, Mr. Pras,
28:02to provide comfort,
28:04the investors' comfort,
28:05to put their money here.
28:07Yes, that's it.
28:09There are still many challenges
28:11that must be faced by the government
28:13when implementing the hillarization program.
28:15But Mr. Joshua, in short,
28:16you are quite optimistic that
28:18the presence of 35 new hillarization projects
28:20can also increase Indonesia's economic growth,
28:23employment absorption, of course.
28:26Yes, again,
28:27when we talk about investment,
28:30lately, it's more about capital.
28:32So, the hope is,
28:34on the one hand,
28:36this investment can
28:38drive economic growth,
28:41but we also need to remember
28:43that the motor of domestic movement,
28:45our domestic economy,
28:46is still consuming in the short term.
28:48So, whether we like it or not,
28:50we also need to think about investment
28:53that can have a negative impact
28:56or a multiplier effect
28:59on public consumption.
29:01So, the hope is,
29:03if we can increase the local value chain,
29:06if we can increase the role
29:08of local companies
29:10to enter the supply chain,
29:12then, what is it,
29:13stainless and steel,
29:14or electric cars,
29:16or from the battery side,
29:18electric cars,
29:19electric ecosystem,
29:20I think it can increase the value,
29:22or it can have a bigger impact
29:24on public consumption in Indonesia.
29:26Instead of just
29:28exporting directly
29:30from the two processes.
29:33Okay, that's it.
29:34It's really a hillarious thing to do in Indonesia.
29:37From raw materials,
29:38we process the semi-finished product,
29:40then the finished product
29:41that is also marketed in Indonesia,
29:43and even the finished product
29:44can be exported abroad.
29:46Okay, Mr. Joshua, Mrs. Mehdi,
29:48thank you for the information, data,
29:50and analysis
29:51that have been given to the audience today.
29:53Congratulations on continuing your activities again.
29:55Stay healthy, see you again.
29:56Thank you, Mr. Joshua, Mrs. Mehdi.
29:59Thank you, Mr. Spadi.
30:01Viewers, don't leave your seat,
30:03because in a moment,
30:04we will return with another interesting topic
30:06related to the potential
30:08of lowering the price of plane tickets
30:10in 2025.
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