World

Indonesia sees decreased investment in energy, mining

Indonesia has attracted an estimated 22.33 billion USD in investment in energy and mining in 2020, lower than 31.9 billion USD recorded last year and the target of 36 billion USD set for 2020, according to Ministry of Environment and Mineral Resources (EMR).
Jakarta (VNA) – Indonesia has attracted anestimated 22.33 billion USD in investment in energy and mining in 2020, lowerthan 31.9 billion USD recorded last year and the target of 36 billion USD setfor 2020, according to Ministry of Environment and Mineral Resources (EMR).

EMR Secretary General Ego Syahriah said that as of October2020, 17.7 billion USD was poured into the field, including 8.1 billion USD inoil and gas, and 5.8 billion USD in electricity, 2.8 billion USD in mining andcoal, and 900 billion USD in renewable energy.

However, he showed optimism that in 2021, investment inenergy and mining will recover to 37.2 billion USD.

Indonesia's upstreamoil and gas regulator SKK Migassaid that global investment in the field is forecast to reduce about 30 percentto 228 billion USD this year, far below the initial target of 325 billion USD dueto impacts of the COVID-19 pandemic and fall in oil price.

In order to attractmore investment in the area, the Indonesian Government has applied a number ofmeasures and renovated policies, including nine investment stimulation packagesand tax and fee reduction and payment date extension.

According to theEMR, Indonesian Crude Price (ICP) rose to 42 USD per barrel in lateSeptember, higher than the country’s expectation of 38 USD per barrel. The oiland gas sector is estimated to contribute 6.99 billion USD to the country’sstate budget in 2020, higher than the earlier forecast of 5.86 billion USD./.
VNA
#Indonesia#energy and mining#EMR Secretary General Ego Syahriah#renewable energy#SKK Migas#COVID-19 pandemic#Vietnam#Vietnam news#Vietnam News Agency
Follow VietnamPlus

Related News

Indonesia sets goal to vaccinate 75 million people against COVID-19

Indonesia sets goal to vaccinate 75 million people against COVID-19

Indonesia’s Ministry of State-owned Enterprises (BUMN) is targeting to supply non-subsidised vaccines to 75 million people within the next eight or nine months, said BUMN Minister and Chief Executive of the Committee for Handling COVID-19 and Economic Recovery (KPCPEN) Erick Thohir.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.