Freeport Indonesia Receives 2023 Pioneer Investment Award
27 May 2023
PT Freeport Indonesia (PTFI) received the 2023 Pioneer Investment Award from the Ministry of Investment/Investment Coordinating Board (BKPM) for the company's contribution to sustainable investment at the national level. PTFI received an award in the category of Best Pioneer Foreign Investment in the Primary Sector for PTFI's commitment to invest in sectors that maximize the utilization of natural resources in Indonesia.
The Pioneer Investment Award is the first award held by the Ministry of Investment/BKPM. This award is given to companies that have long made foreign investment (PMA) or domestic investment (PMDN) that have encouraged progress in various sectors, including natural resource management, manufacturing, construction, services, and others. The awarding coincided with the peak night of the Ministry of Investment/BKPM's 50th Anniversary celebration with the theme "Investment Grows, Indonesia Moves" on Friday (26/5) in Jakarta.
In his remarks shown via video recording, Indonesian President Joko Widodo emphasized the important role of investment for the national economy. "Investment is the key to driving economic growth and creating more jobs," said Indonesian President Joko Widodo.
PTFI has invested in Indonesia for more than 54 years and continues to provide benefits, both directly and indirectly, for Indonesia, especially the people of Mimika. “The investment that PTFI has made in Indonesia is our long-term commitment to be able to continue to grow together with Indonesia's best sons and daughters, and continue to provide long-term benefits for the development of the nation, especially the people who live side by side with us. This award will further strengthen our enthusiasm to continue to provide sustainable benefits for Indonesia," said PTFI President Director Tony Wenas who attended the awarding ceremony.
PTFI's total investment value during 1992-2021 reached US$53.1 billion. This sustainable investment continues to bring benefits to Indonesia, especially Mimika Regency through infrastructure development, job creation, improving the welfare of the surrounding community, and the emergence of micro, small and medium enterprises (MSMEs) around the company's operational area. In addition, this investment also brings benefits in the form of payment of taxes, royalties, dividends, fees, etc. up to 26.7 billion US dollars.
Not only that, PTFI as one of the leading mining companies in Indonesia has also opened the door for innovation and technology in the national mining industry, as well as accelerating the development of the national downstream industry. One of PTFI's current investment focuses includes the construction of a smelter in Manyar, Gresik, and the expansion of another smelter, namely PT Smelting in Gresik. PTFI's investment in these two projects is a form of PTFI's commitment to optimizing the use of natural resources and supporting the national downstream policy.
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