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🇮🇩 Indonesia /Economy & Trade

Indonesian Government Outlines Strategies to Restore Public Trust

From Tempo · () Indonesian

Translated from Indonesian, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Indonesian State Secretary Prasetyo Hadi detailed government strategies to restore public trust amidst economic challenges.
  • President Prabowo Subianto emphasized deregulation, streamlined licensing, and accelerated industrialization to boost the economy and competitiveness.
  • The government aims to reduce import dependence, increase value-added products, and strengthen the rupiah, citing the success of Danantara's global bond issuance as a sign of foreign investor confidence.

Indonesia's government is implementing a multi-pronged strategy to rebuild and bolster public trust, particularly in the face of economic uncertainty. State Secretary Prasetyo Hadi outlined key initiatives, emphasizing President Prabowo Subianto's commitment to fostering a more robust economic environment.

"The President reiterated several undertakings that, in our opinion, are part of the efforts to instill confidence in business actors, which in turn will build public trust," Prasetyo stated. Central to these efforts is a focus on deregulation and streamlining business licensing processes. The government believes this will create a more favorable investment climate, enhancing the competitiveness of Indonesia's national economic ecosystem.

President (Prabowo Subianto) reiterated several undertakings that, in our opinion, are part of the efforts to instill confidence in business actors, which in turn will build public trust

— Prasetyo HadiThe State Secretary explained the government's strategy to restore public confidence through presidential initiatives.

Furthermore, President Subianto is pushing for accelerated downstreaming and industrialization, a directive conveyed to Investment and Downstream Minister Rosan Roeslani. This strategy aims to reduce the nation's reliance on imported goods by developing value-added products, thereby increasing national wealth. The strengthening of the rupiah exchange rate is seen as intrinsically linked to improved export and import performance, which in turn is bolstered by these industrialization programs.

Prasetyo highlighted the importance of stability in the business climate and called for collaboration among the public, market players, and economic actors to strengthen the national economy. Minister Rosan Roeslani pointed to the successful issuance of Danantara Indonesia's first global bond, valued at US$1.5 billion, as evidence of high foreign investor confidence. The bond attracted significant interest, with a peak order book value reaching approximately US$4.6 billion, which Rosan cited as proof of strong international financial market belief in Indonesia.

This also proves that investor confidence in Indonesia is high

— Rosan RoeslaniThe Investment and Downstream Minister cited the success of Danantara's global bond issuance as evidence of strong foreign investor confidence.
DistantNews Editorial

Originally published by Tempo in Indonesian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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