Remarks of President of the Republic of Indonesia at the 17th National Conference of the Indonesian Young Entrepreneurs Association (HIPMI), Alila Solo Hotel, Surakarta City, Central Java Province, November 21, 2022
Assalamu’alaikum warahamtullahi wabarakatuh,
May peace be upon us all,
Greetings of Virtue.
Distinguished Speaker of the People’s Consultative Assembly Bambang Soesatyo,
Distinguished Speaker of the House of Representatives Puan Maharani,
Distinguished Speaker of the Regional Representatives Council Lanyalla Mattalitti,
Distinguished Ministers of the Onward Indonesia Cabinet present here Mr. Erick Thohir, Minister of Cooperatives and SMEs Teten Masduki,
Distinguished Governor of Central Java province and Mayor of Surakarta,
Distinguished Chairperson of Indonesian Young Entrepreneurs Association (HIPMI) and all members of the HIPMI Central Management Board,
Distinguished members of the HIPMI Regional Management Boards across the country, from Sabang to Merauke, from Miangas to Rote Island,
Distinguished senior members of HIPMI present here, Mr. Abdul Latief, Mr. Agung Laksono, Mr. Cicip Sutario, Mr. Edwin, Mr. Okto, and others whom I cannot name one by one,
Ladies and Gentlemen,
We have just concluded the G20 Summit in Bali province. It is a great mandate and honor. We are currently at the top of global leadership as we are now the Chair of ASEAN.
What do I want to remind you? That it is trust that we did not easily earn,. When we become entrepreneurs, we will also build people’s trust in us. As a country, we also build international trust, global trust, gain the trust of other countries. This is not easy.
Why do other countries, the international, the global world trust us?
Because indeed, we can be trusted. We provide concrete and real data. Our economy is good. Among the G20 countries, ours is one of the good ones. It allows us to build trust. During the Indonesian G20 Presidency, when we held the G20 Summit in Bali, our economy in the third quarter [of 2022] was 5.72 percent. Compare it with that of other G20 countries. Our inflation also remains under control. We can control it in a very good position at 5.7 percent. Things like these nurture the global trust in us.
Once we have earned trust, once we have done it, what will happen? If we are entrepreneurs, we have companies, we have products, it will be easy to sell goods if we are trusted. If people trust us, trust that our brand is good, it will be easy to sell our products. By the same token, in a large scope, it also applies to a country. This is our current position. Thus, we must improve, maintain good situation. As I have stated before about inflation and our economic growth, we must maintain and continue to improve them. It is the fruit of the hard work of all of you entrepreneurs who stand before me.
If we look at the figures, inflation at 5.7 [percent], economic growth at 5.72 [percent]. As for household consumption, I was surprised that it reached 5.4 percent in the third quarter. Our export—other countries face huge difficulty in terms of export, while in the third quarter, our export still grew by 21 percent, 21.6 percent. We must be aware of such a landscape. If the global economy is on shaky ground, the global economic landscape may also affect us in the future.
Therefore, we must have the right strategies. We must be truly careful in managing [the economy] in a global situation that is hard to predict, hard to figure, hard to calculate. Be careful in making policies. Even a little mistake has terrible consequences. There is an example of that. I suppose you are aware that in England, there was a mistake in making a policy and the impact is widespread. We do not want this.
This is why I always tell ministers to be careful in making policies in a highly vulnerable situation such as now. Do not make a mistake, especially in doing something that has something to do with the lives of many. Why do I visit traditional markets every day, almost every week? This morning I just visited a market in Boyolali regency. I checked which goods’ prices rose, which are stable so that we are aware. Do not make a mistake in making policies.
Our trade balance has recorded a surplus for 30 months in a row, meaning that we can still export our domestically produced goods. Remember, the situation is different in other countries. Now, fuel oil causes difficulty to all countries. All countries also face food shortages. All countries. [Food prices] can rise by 30 percent, 40 percent, even 50 percent. We can still maintain price stability. We must be optimistic, yet remain careful and vigilant.
Second, related to politics. I am calling on all candidates of president and vice president who are present here. I will not mention their names, but Minister of Investment has bluntly stated them so I need not repeat it. In this vulnerable global situation, we all have to keep the conduciveness of the political situation. It must remain peaceful. At the very least, do not escalate the condition because the situation is not normal. Be careful, the global situation is not normal.
I have stated it multiple times. Fourteen countries have lined up to receive loans from the IMF, 14 countries. In ’97-’98, if five countries have done it, it would have caused a commotion, but there are 14 countries. And 28 other countries are lining up at the door of the IMF. It is estimated that there are 66 countries in total and it is impossible to give them all the assistance due to the limitations from the IMF. The World Bank will certainly limit the loans.
Once again, I’d like to remind candidates of president and vice president to create a political situation that is not heated, that is peaceful if possible. It is allowed to have debates, debates of ideas that will improve the country, but do not escalate things. Do not use ethnicity, religious, racial, and societal group (SARA) issues, religious politicization, or identity politics as political tools. We have felt them, and they made long-term impacts. Do avoid them. Do use ideas as political tools, but not SARA, religion, and identity. It is very dangerous for a big country like us, Indonesia, which is a diverse country.
That concludes my remarks on this auspicious occasion and by saying bismillahirrahmanirrahim, this morning I officially inaugurate the 17th National Conference of the Indonesian Young Entrepreneur Association (HIPMI).
I thank you.
Wassalamu’alaikum warahmatullahi wabarakatuh.