Jakarta, April 9 -- Indonesia's Finance Minister Purbaya Yudhi Sadewa plans to draft regulations for floating storage units (FSU) and bunkering businesses to boost domestic competitiveness.

The move follows business obstacles faced by PT Asinusa Putra Sekawan, which plans to develop FSU and bunkering operations on Nipa Island in the Malacca Strait but lacks a regulatory framework covering licensing, supervision, and operations.

"If you want to expand into FSU, that's fine. We just need to adjust the regulations. It's still not entirely clear, but I think I know where it's headed," Purbaya said at a complaint hearing on canal debottlenecking in Jakarta on Thursday.

Asinusa operates in the Malacca and Singapore straits, one of the world'...