Before Chinese Business People, President Jokowi Speaks on Indonesia’s Optimism in Economy

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 3 September 2016
Category: News
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President Jokowi delivers a keynote speech in a Business Forum on Saturday (3/9) local time, in Shanghai, the People’s Republic of China

President Jokowi delivers a keynote speech in a Business Forum on Saturday (3/9) local time, in Shanghai, the People’s Republic of China

President Joko ‘Jokowi’ Widodo on the second day of his working visit to the People’s Republic of China, became a keynote speaker in a business forum held on Saturday (3/9), at the Shangri-La Hotel, Shanghai.

In the event attended by Chinese business people, President Jokowi conveyed his optimism in Indonesia’s economic development. The President said that amid uncertain condition in global economy and politics, Indonesia is not looming pessimism in facing such situation.

In fact, the President added, during the emerging challenges, there are big opportunities that can be explored.

“We does not feel pessimistic because there are opportunities behind a challenge. An opportunity to develop the economy and create sustainable economy, also an opportunity to improve Indonesia’s economy so there are more job offers ,” the President added.

The President explained that Indonesia is one of many countries which have been experiencing economic slowdown since 2012. However, Indonesian Government will not do nothing. Indonesia must reform its economy and move forward in facing all challenges.

“In order to address the economic slowdown, since the beginning of my administration, the Government has launched the biggest infrastructure development program in Indonesian history,” the President explained.

The Government has also deregulated economic policies to scrap regulation that considered detrimental to the development of industry and business in Indonesia. Since then, the Government has launched around 13 economic policy packages.

According to President Jokowi, the Government’s work starts to show results earlier this year. “Indonesia’s Gross Domestic Product (GDP) grew by 5.08 percent from the previous 4.9 pecent in the fourth quarter of 2015. Meanwhile, Indonesia’s GDP in the first quarter of 2016 decreased to 4.91 percent, but it increased by 5.18 percent in the second quarter of 2016,” the President explained.

Economic and Tourism Sectors

Although many countries have experienced economic slowdown, the President asserted that it does not happen to Indonesia. Moreover, two major political parties have declared their support to President Jokowi. The support dominates the power of the Government in the parliament, or around 68 percent.

“That is probably the highest rank of political stability in Southeast Asia. Stability and political power bring us power to catch up and to reform as well as to modernize Indonesia’s economy,“ the President added.

President Jokowi believes that manufacture sector in Indonesia will improve in the future. Gradual and sustained, Indonesian Government continues to improve the investment climate and ease of doing business in Indonesia.

The President explained that inflation rate which is usually in the range of 8 percent dropped to 4 percent this year. Credit interest rate which usually remains at double digit level is on the right track now, to be cut to single digit in the near future.

The high bank interest rate indeed slows down the expansion of business sector in global competition and will hamper economic growth, the President admitted. Therefore, the Government will strive to cut rates to single digit in order to boost economic development.

Moreover, President Jokowi also believes that tourism sector in Indonesia will improve. There are lot of Indonesia’s natural beauty that have not been recognized by international community.

The President mentioned that Indonesia has not only Bali, but also Raja Ampat in West Papua, Mandalika in Lombok, and Labuan Bajo in East Nusa Tenggara.

“You might want to buy properties there before the price goes up,” President Jokowi said, to the laughter from the participants.

Concluding his speech, President Jokowi called on international community to come and invest in Indonesia. The President ensured that he will provide ease of doing business for investors to invest in Indonesia.

“I wait for you in Indonesia. Believe that I will guide and provide ease of doing business for you during your stay and invesment in Indonesia,” President Jokowi concluded. (DID/BPMI/ES) (RAS/MMB/YM/Naster)

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