Indonesia not to sell resources after 2014: minister

English.news.cn   2012-04-11       

        

JAKARTA, April 11 (Xinhua) - An Indonesian minister said that the country will not export raw natural resources after 2014 and that it will renegotiate contracts with private companies processing the country's commodities, a local media reported on Wednesday.

Coordinating Economic Minister Hatta Radjasa said that all natural resources in Indonesia should be processed domestically.

"This is our commitment toward our natural resource endowment and environment and we have to be consistent," Hatta said on Tuesday during the inauguration of technology-based economy Technopolitan in Pangkalan Kerinci, Pelalawan, Riau.

He said that the export of natural resources had disadvantaged Indonesia and had hampered the development of downstream domestic industry.

"We have lost a lot of jobs and work hours," Hatta said, citing that the government had disseminated the plan to investors and had asked them to submit their road maps regarding the establishment of downstream business units in their operational areas.

"For those who fail to submit their plans, we will stop their operations or we will reduce their capacity here," he was quoted by the Jakarta Post as saying.

The government will provide incentives, including tax allowances and holidays for investors who establish downstream businesses, Hatta said.

"We respect investors and their contracts. We only want changes so that our people can create something more and produce valuable products made from our natural resources," he said.

Editor: Chen Zhi