Monday, 24 June 2019 09:11

President Joko Widodo Asks His Ministries to Improve Export and Investment Performance

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President Joko Widodo expects the relevant ministries to be able to work both on policy and implementation in a bid to improve the performance of exports and national investment. This was disclosed by Minister of Finance, Sri Mulyani after attending a limited meeting on "Discussion of Breakthrough Investment, Export and Tax Policy" at the State Palace in Jakarta on Wednesday (19/6). Minister Sri pointed out that the government needs to identify industrial performance per sector and per location to see the weaknesses in the field.In the limited cabinet meeting, President Joko Widodo again reminded his ministers to prioritize exports and investment. He believes that the two sectors are the key for the Indonesian people to be able to solve the current account deficit problem. He also hopes that the government can create concrete policies that have a significant impact on the national economy.Minister Sri Mulyani said that in addition to policy matters, President Joko Widodo also wants more investment in Indonesia to become labor intensive so that it could have a positive impact on the domestic economy. However, investments that have entered Indonesia in recent years have been dominated by capital so that they are unable to absorb massive employment. Likewise the workforce in Indonesia is also still dominated by low education backgrounds.President Joko Widodo requested that there must be various Indonesian trade representatives abroad, who could become agents to increase the market. The related ministries must really look at per industry and per location. Take for example; the Ministry of Industry has identified potential industrial sectors, such as the food, beverage, textile, automotive, electronics and chemical industries.Furthermore, there needs to be a government breakthrough in terms of taxation. Minister Sri Mulyani revealed that President Joko Widodo has instructed relevant ministries to provide more facilities. However, he emphasized that the facility in question is not just an instrument, but it must be operated in the field.Minister Sri Mulyani gave an example, the instrument could facilitate the tax holiday requirements and tax allowances. In fact, the government will revise the Income Tax (PPh). In addition, she said that the government will issue a regulation regarding the super deduction tax policy. Until now, the government regulation (PP) is being harmonized at the Ministry of Law and Human Rights.

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