Coordinating MINISTER for Economic Affairs Airlangga Hartarto said that Indonesia will continue to rely on foreign investment (PMA) as an engine for investment growth in the country. This is expected to boost overall economic growth performance.
“In the last 10 years, investment has become one of the key drivers of Indonesia’s economic growth. The government continues to rely on foreign investment,” he said on the sidelines of the 2024 Indonesia-Singapore Business Forum in Singapore as quoted in a press release, Thursday (28/3) .
Airlangga added that investment opportunities in Special Economic Zones (KEK) in Indonesia are also quite wide open for investors to take advantage of. The Indonesian government, he said, would continue to encourage the development of KEK in various regions.
One of the SEZs that according to Airlangga is suitable for Singaporean investors is the SEZ in Bali. “In the Sanur area, there are hotels that have been converted into hospitals or health clinics. Meanwhile in the Kura Kura KEK there are investment opportunities in the education and tourism sectors,” he said.
Furthermore, Airlangga also underlined the need to continue developing labor-intensive industries in addition to capital-intensive industries, such as the textile and fashion industries.
Furthermore, answering questions regarding the tax system in the new cabinet, Airlangga gave an illustration of the idea of establishing a separate tax agency from the Ministry of Finance.
“Currently the tax authority is in the Directorate General under the Ministry of Finance. The Tax Authority might be separated into a separate institution directly under the president, to balance checks and balances,” he concluded.
(Z-9)
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