Indonesia sets US$618 billion target for downstream projects in 2040
Bahlil Lahadalia said the roadmap covers minerals, coal, oil and gas, forestry, fisheries and agriculture.
Indonesia aims to attract US$618 billion through downstream processing projects in 2040, minister Bahlil Lahadalia said at Trade Expo Indonesia in Tangerang on 14 October 2026. He outlined a masterplan covering multiple sectors rather than minerals alone.
Bahlil, the coordinating minister for downstream industries and energy transition and minister of energy and mineral resources, said the government's processing initiatives span minerals and coal, oil and gas, forestry, fisheries and agriculture. He said the roadmap would support national economic growth and create added value, moving Indonesia away from exporting only raw materials.
He cited nickel as an example, saying exports were worth US$3.3 billion in 2017–2018. After Indonesia halted nickel ore exports and developed domestic processing and a vehicle battery supply chain extending to battery packs, nickel-sector exports reached US$34 billion in 2023, according to Bahlil.
Bahlil put exports from downstream processing at more than US$40 billion in 2025 and set a minimum target of US$45 billion for 2026. He also said Indonesia's shift towards processing raw materials had initially unsettled industrial countries that depended on its supplies.
