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Green, digital, downstream: Jokowi’s new economic strategy
President Joko "Jokowi" Widodo has announced a three-pronged strategy to boost Indonesia's economic growth, providing insight into the direction of government policy for the remainder of his term in office.
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President Joko "Jokowi" Widodo delivers his keynote speech at the 100 Economists event in Jakarta on Aug. 26, 2021. (BPMI/Rusman)
President Joko "Jokowi" Widodo announced on Thursday a three-pronged strategy to boost Indonesia's economic growth, providing insight into the direction of government policy over the remainder of his term in office.
The three key aspects are the green economy, the digitalization of micro, small and medium enterprises (MSMEs) and as well as the development of downstream industries.
With regard to the first of those three, Jokowi said the government was planning to build a “green industrial park” by October 2021 to produce “green products” using only renewable energy.
As for the second key aspect, the government wants all 60 million MSMEs to be able to sell their goods and services on e-commerce and other digital platforms. Today, only a fifth of them tick that box.
Elaborating on the third key aspect, the President noted that the government had begun downstream industrial development in early 2020 with a ban on nickel ore exports and said this had lifted steel exports to US$10.5 billion. The scheme would be expanded to other commodities, namely bauxite, gold, copper and palm oil.
“We know that the future of green products looks promising, and we have a great opportunity in this,” Jokowi said in his opening remarks at the 100 Economists event.
