Regulations
The China Chamber of Commerce in Indonesia (CCCI) previously sent a letter to President Prabowo Subianto, detailing a range of complaints, from the mandatory retention of foreign exchange earnings (DHE) onshore to a recent crackdown on immigration.
Industrial machines mine on May 14, 2023, at PT. Indonesia Morowali Industrial Park (IMIP), one of the biggest nickel producers in North Konawe, Central Sulawesi. (AFP/Riza Salman)
Finance Minister Purbaya Yudhi Sadewa said the government would “prioritize national sovereignty over natural resources,” even if stricter policies drive foreign investors away.“It’s fine with the minerals, they’re ours,” Purbaya told reporters in Jakarta on Wednesday, as quoted by Kompas.com. “If other [investors] want to move [out], they can look for minerals [elsewhere].”
He made the remark in response to a letter from the China Chamber of Commerce in Indonesia (CCCI) to President Prabowo Subianto, which complained about overly stringent regulations, heavy-handed enforcement and alleged extortion by authorities.
