Presiden Jokowi: Gov’t to Build Trust from Investors
President Joko “Jokowi” Widodo said that the Government focuses to build trust from both local and foreign investors.
“This is what we are working on; thus political, economic and security stability are mandatory,” President Jokowi said at the 2020 Financial Service Annual Meeting in Jakarta, Thursday (16/1).
The President added that the Government is facing long-term fundamental problems, namely the current account deficit and trade deficit.
“The problem is that there are too many regulations that hold us back, including laws, government regulations, as well as regulations at regional, provincial, district and city levels. This is so complicated,” he said.
For this reason, the President emphasized that the Government will submit Omnibus law to the House of Representatives (DPR) by next week at the latest.
“There are 79 laws comprising of 1,244 articles that will be amended all at once. We took this measure because those articles have hampered us to respond to the world’s rapid changes,” President Jokowi said, while hoping that the DPR can finish the Omnibus law no later than 100 days.
“Once the Law is finished, we can proceed to the new policies as stated in the Law, such as job creation and taxation,” he added.
In terms of financial sector, President Jokowi explained that there will be regulations concerning sovereign wealth fund. “I have talked to the Chairman of the Financial Services Authority (OJK) and Governor of Central Bank of Indonesia that once the fund is established, we will have a minimum U$S20 billion inflow,” the President further said.
“Chairman of the OJK also reported earlier that Indonesia’s financial sector is stable in general, while other countries may experience economic slowdown in 2020 as predicted by the World Bank and the IMF,” the President said.
He went on to say that even though credit growth has fallen from 11-12% in 2018 to around 6% in 2019, the real condition is different. “Because offshore loans amounting to Rp130 trillion also affect our economic growth,” President Jokowi stated. (FID/EN)
Translated by: Estu Widyamurti
Reviewed by: Mia Medyana