Introductory Remarks of President Joko Widodo in a Limited Cabinet Meeting on Investment and Tax Policy, on 21 November 2018 at 11.00 Western Indonesian Time, at Bogor Presidential Palace, West Java
Date 21 November 2018
Unofficial English Translation
Assalamualaikum warahmatullahi wabarakatuh
Ladies and Gentlemen,
In previous meetings, I have often said that the keys to encourage economic growth are investment and increased exports. We have and will continue to make improvements in the investment sector for the more competitive Indonesia. In order to be more competitive, I want a regular evaluation on policies related to investment with its tax incentives to be conducted, so it is more appealing than other countries policies and effective in its implementation.
We are aware that our current account deficit, our trade balance needs some improvements through investment and export. We must also ensure that incentivized investments are made in sectors that truly strengthen our industry, our national economy, generate economic transformation, transform raw materials industries to processing industries, and also strengthen export-oriented industries that provide added value. We should revitalize industries, reduce imports of raw materials and grow industries that utilize the local economic resources we have.
In addition, investment policies should be designed to serve our national interests, not only in creating new jobs and reducing unemployment, but also able to strengthen domestic economic actors, especially micro, small and medium enterprises by making use of technology transfer opportunities, and encouraging cooperation among large business partnerships with medium, small, and micro enterprises.
I think I conclude my remarks here.(PR Division of Cabinet Secretariat)(AC/EPI/AW/YM/Naster)