JAKARTA, Nov. 16 (Xinhua) -- Indonesian President Prabowo Subianto said on Friday that the Southeast Asian country currently needs 600 billion U.S. dollars in investment to develop downstream industries for 26 commodities, according to Antara News Agency.
"We have calculated that we need an investment of around 600 billion dollars to process our natural resources through downstreaming. Therefore, we invite foreign investors to come and take part," said Prabowo in his speech at the APEC CEO Summit in Lima, Peru.
The 26 commodities include sectors such as maritime and fisheries, oil and gas exploration, and minerals, he said.
Indonesia is actively encouraging downstreaming of its industries to boost economic growth and add value to its exported commodities. Building on its success in nickel downstreaming, the country now seeks to expand this model to other sectors, requiring significant investment to realize these goals.
"Indonesia is very open to bringing in more investments. We are determined to protect all investments, provide favorable economic conditions, engage in global economic organizations and cooperate between countries," he said.■