medcom.id, Jakarta: The Coordinating Minister of Economic Affairs, Darmin Nasution, admitted that the falling oil prices has pushed down investment in the oil and gas sector.
"Oil and gas is an important sector for our economy, but we experience investment decline in the past two years," said Darmin at the 40th Indonesian Petroleum Association (IPA) Convention, Jakarta, Wednesday (5/25/2016).
Besides falling oil prices, Darmin believes the problem is also caused by complicated policies. "Maybe because it is not attractive. Not only the price issue, but also our policies," he continued.
The former Bank Indonesia Governor argued fundamental change is necessary to lure back investors. Since 2000, national oil and gas production is gradually decreasing. "It is not about incentives but the grand design," he added.
Minister of Energy and Mineral Resources Sudirman Said agreed that the government should implement change to resolve the issue. He revealed many regulations from various ministries need to be synchronized.
He claimed that his ministry has cut almost half of regulations related to investment in the oil and gas industry. "Even though it is still not perfect, but we have applied it to improve governance in the industry," he concluded.
Cek Berita dan Artikel yang lain di Google News
FOLLOW US
Ikuti media sosial medcom.id dan dapatkan berbagai keuntungan
