Govt officially band export of bauxite from June 2023

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Govt officially band export of bauxite from June 2023
(Source: Setpres)

Jakarta, IO – President Joko Widodo personally issued the statement in Jakarta, Wednesday (21/12), reported CNN Indonesia.

The policy was taken in view of several considerations. First, Jokowi wants to increase its added value for the domestic economy.

Second, to create more jobs and increase foreign exchange earnings. Finally, to create a more equitable economic growth in Indonesia.

“From June 2023, the government will impose a ban on bauxite exports and encourage processing and refining of bauxite domestically,” said Jokowi.

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He said the ban of nickel export, implemented in January this year, has had positive impact on the national economy.

Prior to the ban, Jokowi said Indonesia only earned about US$1.1 billion (Rp17 trillion) but now it has soared by 19-fold. (un)