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Jakarta Post

More powerful Luhut to lead fundraising efforts amid weak investment

  • Marchio Irfan Gorbiano and Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Thu, November 7, 2019   /  09:31 am
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Luhut, one of Jokowi’s most trusted assistants, is well-known for his no-nonsense management that gets things done, even at the risk of stepping on other ministers’ toes, as long as the action is in line with the government’s policies.(JP/Seto Wardhana)

President Joko “Jokowi” Widodo’s decision to give additional authority to Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan is expected to speed up infrastructure projects and fundraising efforts at a time when weak investment is weighing on economic growth. Presidential Regulation (Perpres) No. 71/2019, signed on Oct. 24, expands Luhut’s coordinating role to encompass the Public Works and Housing Ministry, the Environment and Forestry Ministry and the Investment Coordinating Board (BKPM), all of which were previously the responsibility of Coordinating Economic Minister Airlangga Hartato. The new regulation replaces a 2015 Perpres on the office of the coordinating maritime affairs minister. “We will handle the execution of macroeconomic policy, such as generating exports and replacing imports as well as attracting investment, while...