RI aims to lure more Chinese investment into mining sector

By Bambang Atmaja

Coordinating Minister for the Economy Hatta Radjasa said that the government is seeking to lure more investment from China into the mining sector to help accelerate economic growth and create more jobs.

Speaking at a press conference following a meeting with visiting China?s Foreign Minister Wang Yi on Thursday, Hatta said that China plans to invest a whopping US$5 trillion around the globe in the coming years.

He said that Indonesia wants to attract part of that planned global investment particularly into the mining sector.

China, the world?s second largest economy, has been quite aggressive in acquiring mining assets as part of efforts to ensure domestic supply of energy commodities and minerals. While the Indonesian government new policy to require the processing of raw minerals at home has created some uncertainty among investors, the country?s mining potential is too huge to be ignored.

Meanwhile, China Ambassador to Indonesia Liu Jianchao acknowledged his country's interest in Indonesia?s mining sector. "I think this (mining sector) is the most important area," he told Petromindo.com after the meeting.

Minister Hatta said that China could understand the government policy on mineral ores export ban, and that Chinese investors plan to build smelter facilities in Indonesia to process the raw materials here before exporting them.

Editing by Reiner Simanjuntak