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Jakarta Post

Economy in brief: Govt to boost SMEs industrialization

  • The Jakarta Post

Jakarta   /   Wed, May 16 2018   /  02:23 am

The government is set to issue fiscal policies to boost the industrialization of small and medium enterprises (SMEs).On Tuesday, Finance Minister Sri Mulyani Indrawati said the policies would, among others, include a tax holiday and tax allowances for investments below Rp 500 billion (US$35.5 million).“We will design incentives that are focused on the export-oriented labor-intensive industry,” she said after a meeting at the State Palace in Jakarta.Sri Mulyani added that the policies would be issued in several weeks time. With industrialization, she hoped that Indonesia could grow while feeling less vulnerable on the balance deficit.“Industrialization is important to build resilient economic growth. So when we grow high, we will not be hindered by a deficit in the current account and balance of payment,” she said. SMEs are key business entities that drive economic growth in Indon...