Minister of State-Owned Enterprises (SOEs) Erick Thohir expressed optimism about Indonesia’s economic growth potential amidst gloomy outlook in major economies like Japan and the United Kingdom. He emphasized need for investor-friendly policies and collaboration

ADDRESSING attendees at the PT Bank Negara Indonesia (BNI) Central Business District (CBD) building construction groundbreaking event in Tangerang, Banten, on 20th February 2024, Pak Thohir highlighted Indonesia’s projected economic growth of 5.5 percent next year, citing opportunities for growth amid global economic downturns.

Minister Thohir emphasised the importance of creating a conducive market environment for investors, advocating for streamlined investment licensing processes through collaboration between central and regional governments to attract capital investment, thereby stimulating economic growth facilitated by both the private sector and SOEs.

With global economic heavyweights like the UK and Japan grappling with recession, Pak Thohir underscored Indonesia’s potential to accelerate its economic growth, contingent upon fostering a market-friendly environment to entice investors, stressing the significance of constant introspection and adaptability.

Collaboration between SOEs and the private sector emerges as a pivotal strategy to bolster Indonesia’s economy, fostering healthy competition within the domestic banking industry exemplified by a balance between major private banks like Panin Bank and BCA and key SOE banks like Bank Mandiri and BNI, fostering a robust economic ecosystem.

Minister Thohir’s vision extends beyond economic growth, aiming for stability and prosperity through strategic collaborations, affirming Indonesia’s commitment to achieving sustainable growth and elevating its per capita gross domestic product (GDP) to US$10,000 by 2028 or 2030, positioning the nation for long-term economic resilience.

Source: Antara News