VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The Indonesian government is trying to increase the interest of European entrepreneurs to invest in the country, along with the economic recovery from the COVID-19 pandemic and the enactment of the Job Creation Act. Coordinating Minister for Economic Affairs Airlangga Hartarto said it in a virtual seminar themed, "Investing in Indonesia: Opportunities in Asia's Economic Powerhouse", held by the Ministry of Foreign Affairs, last Thursday, February 25.

During the seminar Airlangga Hartarto said Indonesia's economy was gradually recovering due to ongoing efforts to mitigate the impact of COVID-19, including the procurement and distribution of vaccines. According to him, Indonesia has secured vaccines for 182 million people out of a total population of 270 million.

Hartato added that Indonesia is also carrying out structural reforms, especially by implementing the Job Creation Law to boost competitiveness and create a more friendly business climate. The law, which came into effect in November 2020, includes cross-sectoral policies including environmental conservation, investment ecosystem, business licensing and ease of doing business, labor standards, taxation, and support for Micro, Small and Medium Enterprises.

Airlangga Hartarto claims that the enactment of the law and its derivative regulations can support Indonesia's economic growth as well as pay attention to environmental sustainability and workers' rights. He emphasized that as the largest economy in Southeast Asia, Indonesia has a target of doubling the percentage of investment from Europe which currently only covers 10 percent of total investment to ASEAN countries, based on data from the Indonesian Ministry of Foreign Affairs.

On the same occasion, the Director General of America and Europe at the Ministry of Foreign Affairs, Ngurah Swajaya, said the strategy that will be carried out is to directly target potential sectors, to intensify marketing and assistance. The government is aware of this. Therefore, the Ministry of Foreign Affairs together with the Investment Coordinating Board took the initiative to collaborate with all stakeholders to systematically target potential sectors to be promoted throughout 2021 in Europe.

Six priority sectors that will be targeted and have the potential to increase investment in Indonesia are chemicals, e-commerce, electronics, pharmaceuticals, infrastructure, food and beverages, and garments. The Investing in Indonesia Seminar was attended by more than 400 investors and potential investors from Europe.