In terms of investment and export, Indonesia has been left behind by its neighboring countries, President Joko Jokowi Widodo has said.
“We should not be left behind by Cambodia and Laos,” President Jokowi said in his remarks at the opening of the National Coordination Meeting on Investment in Tangerang, Tuesday (12/3).
According to the President, Indonesia has great power in the form of human and natural resources. However, for years, the country prefers to export raw materials and does not have courage to enter downstream sector and industrialization. Thus, he ordered every regional head to encourage these two sectors in their respective region.
If there are investors applying for permit for any industry, President Jokowi wants the permit is issued immediately without complicating the process.
President Jokowi reminded that Indonesia is a big country which has made a lot of progress in promoting its investment in the past 2-3 years. Since 2017, its sovereign credit rating is at BBB-/stable outlook (investment grade status). The rating was granted by three international credit rating agencies: S & P, Moody’s, and Fitch. He also cited the results of a survey from the United Nations Conference on Trade and Development on the CEOs of multinational companies, which placed Indonesia at rank four of the most attractive investment destination in the world. “This is our big capital,” the President said.
President Jokowi claimed to have met many investors who wanted to invest in this country but many have not realized this matter. “Complicated business process, land acquisition, and low-quality services have prevented the investors to invest in Indonesia,” he said.
If the problem is resolved, the President expressed hopes that the country’s economic growth will increase. (DND/JAY/ES)
Translated by: Galuh Wicaksono
Edited by: Mia Medyana