Swiss Investment in Lake Toba Stymied by Presidential Regulation as Purbaya Takes Charge

Jakarta, CNBC Indonesia – Finance Minister Purbaya Yudhi Sadewa again led today the effort to resolve bottlenecks to business activity, i.e., debottlenecking. In this session, one of the companies involved was Swiss-origin PT Aqua Farm Nusantara, relating to tilapia production capacity at Lake Toba, hampered by regulatory misalignment between Presidential Regulation No. 60 of 2021 and Governor of North Sumatra Decree.

PT Aquafarm Nusantara’s Chief Executive Tri D. Saputra explained that the company, which has operated at Lake Toba since 1998, holds a production licence of 34,314 tonnes per year. Meanwhile Presidential Regulation No. 60/2021 caps tilapia production at 10,000 tonnes per year, and the North Sumatra Governor’s Decree sets a capacity of up to 60,000 tonnes.

‘And this is not aligned with the licences we already hold. PT Aquafarm Nusantara has licences to produce 34,314 tonnes. We have been at Lake Toba since 1998. That means we were operating before the regulation, and this is our concern about how it will affect future investments,’ Tri said during the Debottlenecking session, quoted on Tuesday (19 May 2026).

In response, a representative from the Ministry of Investment and Infrastructure/ BKPM explained that there are studies indicating Lake Toba’s carrying capacity is around 45,000 to 60,000 tonnes per year. However, to confirm, further assessment by the Ministry of Environment is required to ensure the farming capacity does not damage the environment of Lake Toba.

‘We would need the environmental study first from the Ministry of Environment so that the environmental, business, and other interests can progress in a balanced manner,’ he said.

The study is estimated to take two to three months with a budget of around Rp 200 million. The government plans to involve BRIN in the research, with funding supported by LPDP.

Meanwhile, the session agreed that the company may continue operating under the grandfather clause of the Investment Law. The clause allows existing permits to remain valid despite new regulations. Nevertheless, the government asked the company not to increase production capacity during the study.

‘For now, PT Aqua can operate at the current level under the grandfather clause, but once the study is completed and its results, we will use the study results as the final reference for capacity at Lake Toba,’ concluded Purbaya, as chair of the session.