World

Indonesia raises energy investment target to 35.9 billion USD in 2020

Indonesia has revised investment target in energy in 2020 to 35.9 billion USD from 31.9 billion USD set previously, according to the Ministry of Energy and Mineral Resources.
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./.
VNA
#Indonesia #investment target #energy #Vietnam News Agency #Vietnamplus Indonesia
Follow VietnamPlus

Related News

See more

Illustrative image (Photo: bangkokpost.com)

Thailand’s fruit exports produce over 6.5 billion USD in 2024

Fruit was the most valuable agricultural export of Thailand last year, with total turnover hitting 6.51 billion USD, surpassing the five-year average of 5.86 billion USD and accounting for 22.6% of the total agricultural exports, according to the Trade Policy and Strategy Office (TPSO).

The Thai Chamber of Commerce is calling on the government to establish a "war room" to address tariff threats from the administration of US President Donald Trump. (Photo: nationthailand.com)

Thai government urged to set up 'war room' to tackle US tariffs

The TCC insisted the Prime Minister must chair this task force, comprising both public and private sector representatives, to formulate a proactive strategy against a possible resurgence of protectionist policies under the Trump 2.0 administration.

Former President of the Philippines Rodrigo Duterte (Photo: AP)

Former Philippine President Duterte arrested on ICC warrant

The Philippine National Police on March 11 morning executed the International Criminal Court's arrest warrant against former Philippine President Rodrigo Duterte in connection with his controversial policy in the war on drugs while in office, which left thousands of people dead.

Illutrative Image (Photo: cnbc.com)

Singapore to apply AI in elderly care

As Singapore's aging population grows rapidly, projected to reach 25% of the total population by 2030, technology is seen as a key solution to address healthcare workforce shortages.

(Photo: screenshot)

Argentine newspaper spotlights Vietnam's circular economic orientation

The article emphasised that the circular economy is a key development priority of Vietnam in the 2021 – 2030 period, with a vision to 2045, aiming to achieve the goals of waste management, efficient use of natural resources, environmental protection, disaster prevention, and climate change response.

The cruise ship ‘Celebrity Solstice’ docks off the coast of Koh Samui with 2,852 passengers in January 2024. (Photo: bangkokpost.com)

Thailand advances plans for major southern Marina

The project to build a marina in the southern province of Surat Thani is estimated to cost 12.172 billion THB (360 million USD) and is expected to accommodate 120 cruise routes annually, generating at least 8 billion THB in revenue.

Malaysia's palm oil stocks hit 22-month low

Malaysia's palm oil stocks hit 22-month low

Malaysia's palm oil stocks in February dropped by 4.31% to 1.51 million metric tonnes, the lowest since April 2023. Crude palm oil production in the month was down 4.16% to 1.19 million tonnes, the lowest in three years, after floods disrupted production. Palm oil exports fell 16.27% to hit a 4-year low of 1 million tonnes.

Thai PM Paetongtarn Shinawatra (Photo: Nation Thailand)

Thailand tightens security following violent attacks in deep south

Thai Prime Minister Paetongtarn Shinawatra has ordered heightened security measures and increased night in the country’s deep south following a series of violent attacks in Sungai Kolok, a border city in Narathiwat province, which left two security officers dead and 11 others injured.