Mr. Septian Hario Seto- “Value Added Policies for Critical Minerals and Its Geopolitical Challenges: An Indonesia Experience”

Indonesia’s value-added strategy for critical minerals—centered on export restrictions for nickel ore, domestic processing mandates, fiscal incentives, and a combination of investment and industrial policies—aims to shift the economy from raw-ore extraction to higher-value manufacturing. Using nickel as the focal case, the presentation will show evidence of success: a rapid build-out of industrial capacity for nickel processing; the emergence of industrial parks (e.g., Morowali and Weda Bay) that integrate power, logistics, and services; movement up the value chain from ore to ferronickel/NPI, stainless steel, and battery-grade intermediates (MHP, nickel sulfate); rising foreign direct investment with technology-transfer provisions; and a measurable shift in export composition toward processed products and EV-related inputs.
These gains are unfolding within a sharp geoeconomic rivalry. Chinese firms, which dominate processing capabilities for most critical minerals globally, have played a pivotal role in financing and operating Indonesian projects—accelerating capacity growth, technology, and offtake in the early years. Therefore, this presentation also explains Indonesia’s strategy in responding to the geopolitical tension between China and Western countries, particularly the United States, by prioritizing national interests as the main reference point and maintaining the long-standing principle of an independent and active foreign policy. In addition, the presentation will also discuss the Government of Indonesia’s efforts to address key ESG issues, including those related to tailings, deforestation, and carbon emissions.

Septian Hario Seto, widely known as Seto, is an accomplished economist and currently serves as a Member of the National Economic Council (DEN) of the Republic of Indonesia. Seto has played a key role in navigating complex financial strategies that drive critical development initiatives across both public and private sectors. A graduate of the University of Indonesia with a BA in Economics in 2006 and SKEMA Business School in 2008, Seto began his career as an analyst at Principia Management Group before advancing to Corporate Finance Manager at PT Toba Bara Sejahtera. His exceptional performance in both roles led to his recruitment by the government, where he brought significant expertise in capital raising, debt structuring, and strategic crisis management. Since 2015, he has held various influential roles as an Expert Staff across key ministries, including the Executive Office of the President, Coordinating Ministry for Political, Legal, and Security Affairs, and Coordinating Ministry for Maritime Affairs and Investments.
With a strong track record in the coal mining industry and nickel downstream processing, as well as
significant contributions to major projects such as the Jakarta-Bandung High-Speed Rail, Jabodebek
LRT, toll road development across Java and Sumatra, Kertajati International Airport, and Kediri Airport,
Seto has demonstrated his dedication to supporting sustainable economic and infrastructure
development at the national level.

Education
2007 – 2008 SKEMA Business School, Sophia Antipolis, France
2002 – 2006 Faculty of Economics and Business, University of Indonesia