Indonesia tightens screening of foreign investors to ensure long-term commitment
JAKARTA: The Indonesian government has implemented a new policy to screen and select foreign investors planning to invest in the country to ensure the sustainability of future collaborations, Rosan Roeslani, minister of investment and downstreaming, said here on Thursday (Aug 7).
Rosan, who also heads the Investment Coordinating Board (BKPM), said the policy has been in effect for several months.
He explained that under this new approach, his office will conduct thorough assessments of investors' financial strength, technological capabilities and other relevant aspects.
"In addition to inviting foreign investors, the BKPM is also analysing the strengths of those entering Indonesia," he was quoted as saying by local media.
According to him, such analysis is essential because investment is a long-term commitment, and the government wants to avoid potential problems investors may encounter in the future.
To carry out these evaluations, the BKPM has formed a dedicated team, he added. - Xinhua
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Express
8 hours ago
- Daily Express
Petronas to expand LNG exports despite rising domestic demand
Published on: Tuesday, August 12, 2025 Published on: Tue, Aug 12, 2025 By: Bloomberg Text Size: The company plans further exploration to maintain domestic production levels after hitting peak output. (Reuters pic) Kuala Lumpur: Petroliam Nasional Bhd is seeking to expand its liquefied natural gas exports to growing Asian markets while also supporting Malaysia's rising energy needs, which are partly driven by a data-centre boom. The state-owned company's diversified portfolio – which includes a newly operational export plant in Canada – will enable it to meet overseas demand for gas, said Adif Zulkifli, chief executive officer of Petronas' gas and maritime business. Advertisement The firm plans to expand beyond its traditional markets – Japan, China and South Korea – to countries in Southeast Asia, including Vietnam and the Philippines, he said in an interview. But the gas-producing country is also eyeing more imports because its reserves are dwindling at a time when its energy requirements are growing thanks to a proliferation of power-hungry data centres serving the artificial intelligence industry. Malaysia imported about 3.3 million metric tonnes of LNG in 2024, up from 2.1 million tonnes in 2021, according to Bloomberg's vessel-tracking data. Petronas will continue exploration for more resources to sustain its domestic production, which has already peaked, Adif said. It operates one of the world's largest LNG terminals in Bintulu on the Sarawak coast and has enough gas to fill up its plant there 'for as long as we need', he added. 'We have brought in a number of upstream projects to make sure that we are able to deliver gas and sustain that for the next 20 to 30 years,' Adif said at the company's headquarters on the 42nd floor of the Petronas Twin Towers in Kuala Lumpur on Tuesday. 'We are also gearing up to bring in more imports into Peninsular Malaysia.' Traditional gas suppliers in Asia are being forced to rethink their export strategies as they try to reconcile rapid economic growth with falling domestic reserves. Malaysia, which was the world's fifth-largest shipper of the super-chilled fuel last year, usually meets domestic demand by topping up with cargoes from Australia. Petronas CEO Muhammad Taufik said in June that Malaysia is set to be increasingly dependent on LNG imports in the next five years. In a bid to appease US President Donald Trump and secure a lower tariff from Washington in August, the Asian nation agreed that Petronas would buy US$3.4 billion of US LNG annually. Malaysia leaning into imports to support its energy needs highlights a broader trend of once hefty producers having to turn to buying the fuel from overseas. Traders are also seeing more opportunity to sell gas to traditional exporters in the future. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
9 hours ago
- The Star
PETRONAS to expand LNG exports despite rising domestic demand
Petroliam Nasional Bhd. is seeking to expand its liquefied natural gas exports to growing Asian markets while also supporting Malaysia's rising energy needs, which are partly driven by a data-center boom. The state-owned company's diversified portfolio - which includes a newly operational export plant in Canada - will enable it to meet overseas demand for gas, said Datuk Adif Zulkifli, chief executive officer of Petronas' gas and maritime business. The firm plans to expand beyond its traditional markets - Japan, China and South Korea - to countries in Southeast Asia, including Vietnam and the Philippines, he said in an interview. But the gas-producing country is also eyeing more imports because its reserves are dwindling at a time when its energy requirements are growing thanks to a proliferation in power-hungry data centers serving the artificial intelligence industry. Malaysia imported about 3.3 million metric tons of LNG in 2024, up from 2.1 million tons in 2021, according to Bloomberg's vessel-tracking data. Petronas will continue exploration for more resources to sustain its domestic production, which has already peaked, Adif said. It operates one of the world's largest LNG terminals in Bintulu on the Sarawak coast, and has enough gas to fill up its plant there "for as long as we need,' he added. "We have brought in a number of upstream projects to make sure that we are able to deliver gas and sustain that for the next 20 to 30 years,' Adif said at the company's headquarters on the 42nd floor of the Petronas Twin Towers in Kuala Lumpur on Tuesday. "We are also gearing up to bring in more imports into Peninsular Malaysia.' Traditional gas suppliers in Asia are being forced to rethink their export strategies as they try to reconcile rapid economic growth with falling domestic reserves. Malaysia, which was the world's fifth-largest shipper of the super-chilled fuel last year, usually meets domestic demand by topping up with cargoes from Australia. Petronas CEO Tan Sri Tengku Muhammad Taufik Tengku Kamadjaja AzizMuhammad Taufik said in June that Malaysia is set to be increasingly dependent on LNG imports in the next five years. In a bid to appease US President Donald Trump and secure a lower tariff from Washington in August, the Asian nation agreed that Petronas would buy $3.4 billion of US LNG annually. Malaysia leaning into imports to support its energy needs highlights a broader trend of once hefty producers having to turn to buying the fuel from overseas. Traders are also seeing more opportunity to sell gas to traditional exporters in the future. - Bloomberg
Malay Mail
10 hours ago
- Malay Mail
China said to urge firms to shun Nvidia H20 chips tied to security risks, Bloomberg News reports
LONDON, Aug 12 — Chinese authorities have urged local companies to avoid using Nvidia's H20 processors, particularly for government-related purposes, Bloomberg News reported on Tuesday, citing people familiar with the matter. Authorities have sent notices to a range of firms discouraging use of the less-advanced semiconductors, with the guidance taking a particularly strong stance against the use of Nvidia's H20s for any government or national security-related work by state enterprises or private companies, the report said. Reuters could not immediately confirm the report. Nvidia did not immediately respond to a request for comment outside regular business hours. Nvidia said in July that its products have no 'backdoors' that would allow remote access or control after China raised concerns over potential security risks in the chipmaker's H20 artificial intelligence chip. US President Donald Trump suggested on Monday that he might allow Nvidia to sell a scaled-down version of its next-generation advanced GPU chip, Blackwell, in China, despite deep-seated fears in Washington that China could harness US AI capabilities to supercharge its military. The most advanced chip Nvidia is currently allowed to sell to China is the H20, which is based off the company's older Hopper architecture platform. The Trump administration green-lighted exports of H20 AI to China last month. The Trump administration last week also confirmed an unprecedented deal with Nvidia and AMD to give the US government 15 per cent of revenue from sales of some advanced chips in China. China's renewed guidance on avoiding chips also impacts AI accelerators from Advanced Micro Devices, the Bloomberg report said, adding that it was unclear whether any notices from Chinese authorities specifically mentioned AMD's MI308 chip. AMD did not respond to a request for comment outside regular business. — Reuters
