Minister of Energy and Mineral Resources Bahlil Lahadalia said that the Indonesian government is now focusing on the downstreaming of 28 commodities in order to add value to the Indonesian economy, create jobs and increase Indonesia's gross domestic product (GDP). By 2040, the downstreaming of the 28 commodities will require an investment of USD 550 billion or IDR 9,239 trillion (exchange rate IDR 16,800). Based on the Hilirisation Task Force's projections, the value of investment approved for the initial phase is estimated at USD 40 billion.
In the 2023-2024 period, the Indonesian government was criticised by developed countries for downstreaming nickel, but since the downstreaming of the nickel sector, exports have reached USD 34-35 billion. Bahlil stated that the value is significantly higher than it was prior to the downstreaming, with 2018-2019 nickel exports worth only USD 3.3 billion. Additionally, Bahlil noted that leaders across various countries, including Indonesia, are beginning to consider measures to bolster their domestic economies. In line with President Prabowo's directives, Indonesia is set to capitalize on a comparative advantage.
