Jakarta: The Indonesian government has decided to ban exports of raw bauxite as of June 2023. President Joko Widodo (Jokowi) is optimistic that the move would boost the country's foreign exchange earnings.
"(It would) create more jobs, increase foreign exchange earnings, and boost more equitable economic growth," said President Jokowi at the Merdeka Palace in Jakarta on Wednesday, December 21, 2022.
According to President Jokowi, in the early stages of the implementation of the ban, Indonesia would experience a decline in the export value of this commodity.
However, after two or three years, the benefits will be felt.
The former mayor of Surakarta projects that when the processing industry in the country has strengthened, Indonesia will reap an increase in revenues.
"Our experience with nickel is like that, so don't hesitate. I tell the ministers not to worry about this policy. The government will continue to consistently carry out downstreaming domestically so that added value can be enjoyed for the progress and welfare of the people," he said.
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