POLITICAL TIMES

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Indonesia Launches New Economic Policy to Attract Foreign Investment

By Muhamad Iqbal

Source : antaranews.com

The Indonesian government launched a new economic policy that is centered on digital innovation and infrastructure development in an effort to attract foreign investment. On Tuesday, in a press conference in Bali, President Joko Widodo disclosed the masterplan. It is composed of the backing of startup tech firms and defaster permit procedures among others that are as well as tax reduction for foreign firms. Indonesia is perceived by the government as a good investment destination in Southeast Asia.

Among the notable people in the announcement were President Widodo, the Minister of Finance, and the Minister of Investment. Business executives from a range of sectors, including technology and manufacturing, attended to support the event. The policy was officially launched on October 1, 2024, during a high-profile economic summit in Bali.

This is part of Indonesia's plans and efforts to move its ranking in terms of global competitiveness and recover from the economic impact of the COVID-19 pandemic. For such a purpose, the government is interested in growing foreign direct investment as a driver of economic growth and job creation.

"We're determined to create an environment that is conducive to investment, which will ultimately help our people and our economy," declared President Widodo. " In the upcoming year, the government anticipates that this new policy will significantly increase foreign investments, mostly in fields like technology, infrastructure development, and renewable energy. Economists believe that these adjustments may contribute to a more robust and resilient Indonesian economy.