Govt to Expand Tax Incentive to Boost Investment
Date 21 November 2018
The Governments policies on investment and tax incentives should be regularly evaluated so that they are more attractive than those of other countries and more effective in the implementation as well, according to President Joko Jokowi Widodo.
“We need to improve our current account deficit and our trade balance through investment and export,” President Jokowi said in his remarks at Limited Cabinet Meeting on Investment and Taxation Policy at Bogor Palace, West Java, Wednesday (21/11).
The President further said that tax incentives should be provided to investments that can strengthen the industry and the national economy, generate economic transformation, transform raw materials industries to processing industries, and strengthen export-oriented industries that provide industry value added.
“We should revitalize industries, reduce imports of raw materials and grow industries that utilize the local economic resources that we have,” the President said.
President Jokowi went on to say that investment policies should be designed to serve national interests, not only in creating new jobs and reducing unemployment, but also in strengthening domestic economic actors, especially micro, small and medium businesses by making use of technology transfer opportunities and encouraging cooperation between big businesses with micro, small and medium businesses.
The Limited Cabinet Meeting was attended by Vice President Jusuf Kalla, Coordinating Minister for the Economy Darmin Nasution, Coordinating Minister for Maritime Affairs Luhut B. Pandjaitan, Minister of State Secretary Pratikno, Cabinet Secretary Pramono Anung, Minister of Finance Sri Mulyani Indrawati, Minister of Industry Airlangga Hartarto, Minister of Home Affairs Tjahjo Kumolo, and other high-rangking officials. (GUN/DNA/RAH/OJI/ES)
Translated by: Ridwan Ibadurrohman
Edited by: Ersan Pamungkas