Base metal industry projected to clock 3.54-percent growth in 2021

Jakarta (ANTARA) – Industry Minister Agus Gumiwang Kartasasmita has forecast the base metal industry to record a growth of 3.54 percent this year.

“During the COVID-19 pandemic, the base metal industry continues to grow well. In 2020, the metal industry grew positively,” Kartasasmita noted in a written statement released on Thursday.

The growth indicates that the metal industry is highly resilient and capable of withstanding the impacts of the COVID-19 pandemic and is prepared to boost its capacity and performance this year, he noted.

The performance was attributed to the high realization of investment and trade surplus in the metal industry, especially base metal and efforts to control steel imports.

To encourage the national metal industry, which has a high competitive edge, the minister accentuated the importance of creating a conducive and competitive business climate to push the utility and innovative capacity of the industry.

“To create a conducive business climate in the metal industry during this pandemic, the government, in this case, the industry ministry has adopted several policies to ensure that the industry can continue to conduct its business activities in this difficult period. In fact, the industry is expected to contribute to the nation’s economic recovery and protect the national economy from the threat of the crisis during the pandemic,” he noted.

In drafting the policy, the industry ministry placed the steel industry as one of strategic partners that served as the “mother of industry” for the manufacturing sector, he stated.

As the key component of the nation’s economic development, the metal industry can potentially contribute to the national economy through added value, have a domino effect on social economic activities, create jobs, produce foreign exchange earnings, and eventually serve as a driving factor for the competitive edge of the national economy, he stated.

 

Source: Antara News

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