Remarks of President Joko Widodo at the Launching of the 2019-2024 Master Plan of Indonesian Sharia Economy, on 14 May 2019, at Djunaedi Hadisumarto Room, Saleh Afiff Building of Ministry of National Development Planning/the National Development Planning Agency, Central Jakarta

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 14 Mei 2019
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Unofficial English Translation 

Assalamu’alaikum warahamatullahi wabarakatuh.
Honorable Professor Kyai Haji Ma’ruf Amin,
Honorable Chairman of the Indonesian Ulema Council and its executive board,
Honorable Working Cabinet Ministers,Honorable Chairman and Leaders of Bank Indonesia, the Financial Service Authority (OJK) and the Deposit Insurance Agency (LPS),
Honorable Directors of Sharia Banks, University Chancellors and stakeholders of Sharia Economic and Finance,
Honorable Executive Director of the National Committee for Sharia Finance (KNKS) and its staffers,
Ladies and Gentlemen,

Few days ago, I delivered a statement saying that Indonesia has a great opportunity to become the fourth or fifth strongest economy in the world, God willing, in 2045. But to get there is not easy. We have to solve many challenges and many big problems. Our infrastructure availability is only around 43 percent, far behind our neighboring countries. Second, human capital development is also our big homework and challenge in the future. Third, with regard to bureaucratic reform, structural reforms are also big challenge in heading towards an advanced economy.

One of the important keys to achieving these ideals is sharia economy, which is something inherent in the identity of our country, Indonesia, which has the largest Muslim population in the world. Sharia economy is a generator of national economic growth as well as a source of welfare for the people. Sharia Economy has great potential at the global level. As previously stated by the Minister of National Development Planning (PPN)/Head of the National Development Planning Agency (Bappenas), in 2023 it will reach US$ 3 trillion, approximately Rp.45,000 trillion. I can’t imagine such numbers because our current State Budget is around Rp.2,000 (trillion).

This is a great power that we must begin to see and think about, to take this huge economic cake. Unfortunately, according to the Global Islamic Economic Indicator, in 2018, Indonesia has been ranked tenth among the countries implementing sharia economy. Number ten. It’s still far away. We are still behind Malaysia, the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Jordan, Qatar, Pakistan and Kuwait. This is our great duty.

Ladies and Gentlemen,

The time has come for us to awaken the potential of sharia economy in Indonesia and make Indonesia the center of the world’s leading sharia economy because we are indeed the country with the largest Muslim population in the world. Sharia economy can also help alleviate poverty, improve people’s welfare, promote social justice, and protect the environment. This is also in line with our sustainable development goals.

In my early years as the President, I have established executive management of the KNKS. This Committee will also oversee the implementation of the Indonesian sharia economic master plan in the future. The committee will check and monitor every development and progress.

As we launch the 2019-2024 Indonesian Sharia Economy Master Plan today, we make a big leap to strengthen the Indonesian sharia economic ecosystem. Building an ecosystem is indeed the most difficult task. The master plan will be our guide for implementation, for monitoring the progress and for ensuring the achievements. We will continue to strengthen the halal value chain with a focus on the food and beverage, fashion, tourism, media, recreation and pharmaceutical and cosmetics sectors. And as a support system, we will strengthen sharia finance. We will also continue to strengthen our Micro Small Medium Enterprises as well as our digital economy.

I am very pleased to hear that today we have many marketplaces offering halal products. I think this is a step to market our products, so that we not only become the largest consumer country of global halal products but also become the largest producer of halal products entering other countries.

Today we have many Muslim fashion producers who produce classy-designed products with competitive prices dedicated to the upper middle class market. We should facilitate those products so that they can be displayed in the Indonesian marketplace and then put them in global marketplace network.

I am sure that, God willing, when we are all committed to running the Indonesian sharia economic master plan, Indonesia will soon become the center of the world’s leading sharia economy. By saying bismillahirrahmanirrahim, I launch the 2019-2024 Indonesian Sharia Economy Master Plan.

I thank you.

Wassalamu’alaikum warahmatullahi wabarakatuh.(Public Relation Division of Cabinet Secretariat)(RI/AW/YM/Naster)

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