THE WHAT? Indonesian President, Joko Widodo has unveiled plans to halt exports of raw commodities in a bid to attract investment in the country’s resource processing capabilities and create jobs, according to a report published by Reuters.
THE DETAILS The plan has been trialled with a ban on nickel shipments, and the country has already legislated to put a stop to shipments of bauxite from 2023, per Reuters. An embargo on crude palm oil is being actively considered.
THE WHY? Jokowi told reporters, per Reuters, “We really want to hit the brakes on exporting raw materials because there is no value addition and it does not create jobs.”