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Jakarta Post

To incoming ministers: Competitiveness requires change

  • Annisa Natalegawa

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PREMIUM
Jakarta   /   Sat, October 19, 2019   /  01:35 pm
To incoming ministers: Competitiveness requires change The responsibility for addressing these issues and other investment disincentives, such as poor confidence in the judiciary and concerns about corruption, will fall on the shoulders of the members of the next cabinet. (JP/File)

Indonesia’s incoming team of economic ministers faces a clear, if daunting, task: increase Indonesia’s economic competitiveness in terms of enhanced domestic productivity and as a destination for foreign investment. The incoming administration must accept that while Indonesia is Southeast Asia’s largest country, the government cannot rest on the laurels of our macroeconomic fundamentals. Policymakers will need to take concrete actions and be prepared to invest significant political capital to attract and pour more and better-quality capital into the manufacturing, natural resources and agriculture sectors, if Indonesia is to move onto a higher, more sustainable growth path and provide employment to a rapidly growing workforce. Japanese investment bank Nomura surveyed over 50 companies that had relocated their production facilities from the onset of the United Stat...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.