Indonesia pledges IDR3.33bn investment to strengthen wood processing industry

Posted on September 25, 2024   |  

Indonesia’s Ministry of Industry is running a program to help wood processing companies upgrade their equipment and technology.

The initiative offers reimbursements and discounts on machinery purchases to modernize the industry.

The program aims to enhance the wood and furniture industry’s value chain, boost production efficiency, and improve productivity and quality.

By August 27, 2024, 13 applications had been submitted via the National Industrial Information System (SIINas).

So far, the approved reimbursements for 2024 have reached IDR3.33bn.

This effort is part of the broader Indonesia 4.0 initiative, which focuses on adopting Industry 4.0 technologies to strengthen the country's manufacturing sector.

Companies involved in the program have reported efficiency, product quality, and productivity gains ranging from 10% to 30%.