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Govt beefs up ‘industrialization’ measures
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Coordinating Economic Minister Darmin Nasution gives a press statement after a limited Cabinet meeting in Jakarta on Oct. 22, 2015. (The Jakarta Post/wienda parwitasari)
I
n his latest effort to push industrialization in the country, Coordinating Economic Minister Darmin Nasution has called on related ministries to identify problems in each sector and prepare for a better-shaped regulation to address the issues.
The government, Darmin highlighted, must act as the problem solver to the persistent issues that have been hampering the development of industries in Indonesia, specifically the manufacturing, health, mining and agriculture industries.
"Each ministry will identify industrial problems in their sectors and we will find deeper solutions to spur growth in the industry. We already have the development concept, but we need to be more precise in preparing the operational plan," he said in Jakarta on Monday.
Health Minister Nina Moeloek added that the ministry would boost the pharmaceutical industry, in which more than 90 percent of its raw materials were imported. "Health equipment industry has improved, and now we want to push the pharmaceutical industry," she said.
According to the Investment Coordinating Board’s (BKPM) latest data, domestic investment in the industry sector reached Rp 50.7 trillion in the second quarter of 2016. It expanded by 47.87 percent from the same period last year at Rp 43.01 trillion, equaling 49.44 percent of total domestic investment at Rp 102.54 trillion.
Meanwhile, foreign direct investment (FDI) in industry rose slightly higher than domestic investment in the second quarter, with an increase to US$8.01 billion, and contributed 56.97 percent of total FDI at US$14.07 billion. (ags)
