President Jokowi Kicks Off First Stock Trading Day

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 3 Januari 2020
Category: News
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President Jokowi poses with officials related to the management of the Indonesia Stock Exchange after opening the 2020 Stock Trading, at the Indonesia Stock Exchange Building, Jakarta, Thursday (2/1). (Photo by: JAY/PR)

President Joko “Jokowi” Widodo called on stock exchange authorities, the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) to put an end to stock market manipulation practices.

“We must dare and have integrity. Do not let anybody play with penny stocks. Do provide investors with protection,” the President said at the opening of the first trading day of 2020 at the IDX building, Jakarta, Thursday (2/1).

He added that courage and integrity are crucial given that a clean and integrity market will lead the country to a better and more advanced future.

The President also called for crackdown on market manipulation and financial transactions that lead to fraud and criminal activities. “Let us create a transaction system that is truly transparent, trusted, valid,” he said.

The President also stressed it is time for the OJK, the IDX to clean up the capital market from manipulators.

Many countries, he added, have expressed their interests to invest in Indonesia, while quoting a statement from the OJK Chairman that based on Bloomberg’s survey, Indonesia is ranked first among other emerging economies.

To that end, Indonesia should build and maintain investors’ trust by creating a transparent and valid transaction system as the country has been named one of the most preferred emerging markets in 2020, beating China, India, Brazil and other countries whose growth is recognized worldwide, the President added.

President Jokowi also expressed gratitude for the country’s relatively stable economy amidst global uncertainties in 2019, with capital market performance last year showing an encouraging trend and stock listing activity reaching 55 new company records.

“This is an important achievement because it is the highest in ASEAN and the 7th highest in the world,” the President said, while appreciating the long-term fundraising through the IDX which reached Rp877 trillion, which is the highest ever. (TGH/JAY/ES)

Translated by: Muhardi

Reviewed by: M. Ersan Pamungkas

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