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View all search resultsIndonesia to focus on manufacturing, tourism and investment to revive the economy
The development of the manufacturing and tourism industries coupled with an increase in new investment would help achieve the government’s economic growth target of between 5.3 percent and 5.7 percent in 2021
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The group of foreign tourists who descended from the Sun Princess cruise ship, to enjoy the tour on the island of Lombok, was welcomed by the Sasak welcome dance on Tuesday (11/05/2019). (JP/Wahyoe Boediwardhana)
T
he government will focus on the development of the manufacturing and tourism sectors, as well as attracting more foreign and local investment, in order to revive the country’s economic growth, which has been on a downward trend lately amid growing uncertainty in the global economy, a senior official has said.
Chairman of the National Development Planning Agency (Bappenas) Suharso Monoarfa said the three sources of growth would be the main focus of the government’s working plan (RKP) in 2021 to revive the economy.
“The manufacturing industry contribution [to national GDP] is still below 20 percent, which doesn’t even put us into a semi-industrial nation category. That’s why we have to push and grow the manufacturing sector,” he said in Jakarta on Monday during a ceremony to mark the start of the drafting of the 2021 working plan.
He hoped the development of manufacturing and tourism coupled with an increase in new investment would help achieve the government’s economic target of between 5.3 percent and 5.7 percent growth in 2021.
According to the Bappenas chief, in order to achieve the target, the government will need to boost growth in manufacturing and investment to between 4.5 and 5.5 percent and between 5.6 and 6.2 percent, respectively.
Many analysts estimate that due to growing global uncertainty, Indonesia’s economic growth rate, which hit a three-year low of 4.97 percent in the fourth quarter of 2019, will fall below 5 percent in 2020.
Meanwhile, the agency’s deputy on development monitoring and evaluation Taufik Hamdani told The Jakarta Post on Monday that the government would continue to focus on the 10 “New Bali” tourism projects, creating new industrial zones and smelters, and improving downstream industry development, among other projects in 2021.
