<![CDATA[Indonesia possesses abundant strategic natural resources that provide significant opportunities for economic development but also create challenges related to governance, resource dependence, and value creation. This study aims to systematically review the literature on natural resource governance and downstream industrialization in Indonesia, focusing on resource nationalism, state-owned enterprises, domestic value creation, and economic development. A Systematic Literature Review (SLR) was conducted using academic databases and publications from the last five years. Relevant studies were selected based on predefined inclusion and exclusion criteria and analyzed using qualitative thematic synthesis. The findings indicate that natural resource governance, resource nationalism, and downstream industrialization are closely interconnected. Downstream policies can increase domestic value added, investment, and industrial development, but their effectiveness depends on technological capacity, infrastructure, investment, skilled labor, institutional quality, and policy consistency. State-owned enterprises can support strategic resource management and national economic objectives when accompanied by effective corporate governance and operational efficiency. The study concludes that Indonesia needs an integrated approach that combines resource governance, domestic value creation, industrial development, and sustainability to strengthen the long-term economic contribution of strategic natural resources.]]>
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