RI To Develop Upstream Basic Chemicals

Jakarta, Jan 31 (ANTARA) - The Ministry of Industry has decided to focus on developing Indonesia`s upstream basic chemicals and steel manufacturing industry in light of the contribution of the two sectors to the national economic growth. The industry ministry`s general director Panggah Susanto said here on Thursday that the basic chemicals and steel manufacturing industries accounted for 70 percent of the national revenue, excluding the non-oil and non-gas industries` revenues. "That is why we have to develop these two industries. Our dependence on imported raw materials for the basic chemicals and steel manufacturing industries is still very high," he noted. At the Asia-Pacific Economic Cooperation (APEC) Senior Officials` Meeting (SOM) 2013 in Jakarta, the Industrial Ministry also announced the government`s plans to develop the two industries. "We have told the forum that APEC needs to help improve trade connectivity and cooperation among its member countries, especially in basic chemicals and steel manufacturing sectors," Susanto stated. He said the APEC delegations supported the ministry`s proposal and called for increased investment in the basic chemicals industry. "They pointed out that Indonesia was a stable country with high economic growth. They also said that it was an excellent investment destination," Susanto added. During its chairmanship of APEC SOM 2013, Indonesia wants to ensure resilient growth and lay a better foundation for economic development in the region. The APEC SOM 2013 being held from January 25 through February 7 and attended by hundreds of senior officials and experts from APEC countries, has been discussing several issues, such as economy, security, environment and corruption eradication.