Jakarta, October 21, 2024 – Prabowo Subianto and Gibran Rakabuming Raka have been officially inaugurated as President and Vice President of the Republic of Indonesia (RI) for the 2024-2029 service period after taking the oath of office at the MPR RI Plenary Session at Nusantara Building, Parliament Complex, Jakarta, Sunday (20/10/2024). In his speech after officially becoming President of the Republic of Indonesia, Prabowo reiterated one of his Asta Citanya missions: energy self-sufficiency using biofuels.
Fabby Tumiwa, Executive Director of the Institute for Essential Services Reform (IESR), said Prabowo’s mention of the biofuel program is a step toward reducing dependence on fuel imports. However, Fabby emphasized that to achieve the target, a transparent and consistent policy is needed, both of which he believes are still lacking.
“One of the main challenges in attracting investment in the energy sector is the lack of transparency and predictability. Investors are looking for at least three main things: transparency, consistency and predictability. Unfortunately, regulations in Indonesia often change without clear timelines, which discourages investors. For example, the New and Renewable Energy Law (EBET), which began to be discussed in 2018, is still unclear until now,” Fabby said in the Live Broadcast of the Inauguration of the President and Vice President of the Republic of Indonesia on TVRI World on Sunday (20/10/2024).
Furthermore, Fabby emphasized that industrialization is the central pillar of achieving developed country status in 2045, and sufficient and sustainable energy needs are an absolute requirement. Currently, electricity consumption per capita in Indonesia is still below 1,400 kilowatts, far below the Southeast Asian average of 3,300 kilowatts per capita. If energy infrastructure is not improved, Indonesia’s dream of reaching a per capita income level of USD 6,000 in the next 25 years may be challenging.
“For this reason, the energy transition from fossil fuels to renewable energy cannot be delayed. The first five years of Prabowo-Gibran’s leadership will be a critical period of whether Indonesia can fulfill the vision of a Golden Indonesia 20245. I hope there will be changes in the way we produce, consume and invest in the energy sector. Not only that, it is also important to have ministers who understand the problems and are able to find the right solutions,” said Fabby.
Fabby believes that Prabowo-Gibran’s energy policy will depend on who leads the energy sector. Thus, the chosen minister must have high credibility in the eyes of investors, stakeholders, and industry. This is very important to ensure that Prabowo’s plans can be implemented properly.
Live Broadcast of the Inauguration of the President and Vice President of the Republic of Indonesia on TVRI World on Sunday (20/10/2024)
