Thursday, 31 October 2019 12:09

President Jokowi Orders Coordinating Ministers to Increase Investment and Import Substitution

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President Joko Widodo chaired a Limited Cabinet Meeting related to Submission of Programs and Activities in the Field of Maritime and Investment, Wednesday (10/30/2019) at the President's Office, Jakarta. President Joko Widodo chaired a Limited Cabinet Meeting related to Submission of Programs and Activities in the Field of Maritime and Investment, Wednesday (10/30/2019) at the President's Office, Jakarta. Biro Pers Istana

President Joko Widodo chaired a Limited Cabinet Meeting related to Submission of Programs and Activities in the Field of Maritime and Investment, Wednesday (10/30/2019) at the President's Office, Jakarta.

                  

In his introduction, President Joko Widodo asked the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan to focus the programs and activities of the Maritime and Investment Coordinating Ministry on breakthrough programs so as reducing the trade transaction deficit and the current account deficit.

Jokowi asked the Coordinating Minister for Maritime and Investment to be able to increase domestic investment while reducing import dependence. One of the highlights is the import of fuel oil (BBM) which is currently still feeling its impact on the current account and trade transactions.

Jokowi also asked his staff to increase domestic oil production as a substitute to reduce the amount of imported fuels.

"The first is preparing and creating breakthrough programs in order to reduce the current account deficit and the trade balance deficit. we must ensure that we can continue to increase investment and at the same time we can also reduce dependence on imported goods, especially fuel, which has a very large impact on our trade balance deficit and our trade deficit. and also reemphasizes the increase in domestic oil production so that the implementation of new renewable energy policies must also be accelerated, especially the mandatory acceleration from b20 to b30, then jump to b50 and b100," said President Joko Widodo.

Furthermore, President Joko Widodo also highlighted the issue of investment. The President asked his staff to focus on increasing investment in just a few sectors.

Furthermore, President Joko Widodo also asked his staff to continue to improve the investment climate in the country so that the world trust on investment in the country continues to improve. (VOI / NDY / AHM)

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