In Addition to Pursuing Investment Targets, the Government Must Also Protect Industry – 2024-07-30 07:03:15

Workers complete construction work.(Antara)

HEAD of the Center for Industry, Trade and Investment of the Institute for Development of Economics and Finance (Indef), Andry Satrio Nugroho, appreciated the government’s efforts in pursuing investment realization targets.

Based on the report of the Ministry of Investment/Investment Coordinating Board (BKPM), the realization of investment entering Indonesia in the first semester of 2024 reached IDR 829.9 trillion or 50.3% of the target set by President Jokowi of IDR 1,650 trillion in 2024.

However, the domestic economic situation is still threatened by a crisis that needs to be considered. Because, the domestic industry is currently in a bad condition, such as factory closures that cause layoffs and others.

“Why are many domestic industries withering? One of the factors is that many existing industries have difficulty getting new investment, for example the textile industry, where the government has not paid any attention to the industry, and there is still a lack of protection for this industry,” he told Media Indonesia, Monday (29/7).

Protection of domestic industry can be done by limiting the flood of imported goods. Currently, Indonesian industry is having difficulty competing because of the many imported goods in the domestic market with unbalanced prices.

According to him, by providing protection, investment targets can also increase. Given that domestic industries are able to attract foreign investment if they get a place in the Indonesian market.

“If only we protect this industry, I think the investment will be greater than what Minister Bahlil said,” he added.

Furthermore, Andry said that efforts to increase investment targets must be carried out by all ministries/institutions. So far, he said, there has been no maximum collaboration from all ministries/institutions to attract foreign investment. For that, in the future, the Ministry of Investment needs to work together with other ministries/institutions to increase the investment. (N-2)