Thursday, 14 March 2024 09:20

Indonesia Plays an Active Role in Encouraging Inclusive Economic Growth

In support of achieving the Golden Indonesia 2045 vision, the government has initiated economic transformation strategies with a focus on inclusive economic growth, notably through international cooperation. Indonesia has actively influenced the global economic direction by participating in various international fora. Currently, Indonesia stands as the first Southeast Asian country and the third in Asia to achieve Open for Accession Discussion status, aiming for full membership in the Organisation for Economic Co-operation and Development (OECD). Minister of Economic Affairs Coordination, Airlangga Hartarto, emphasized the significance of Indonesia's participation in international fora in shaping conducive global economic conditions, particularly for economic growth. Joining the OECD is projected to have substantial implications for Indonesia, potentially increasing the GDP by 0.94% and attracting OECD investment by 0.37%, driven by increased export demand from OECD members stimulating domestic investment flows.

Additionally, Indonesia actively contributes to regional stability, particularly in the Indo-Pacific, which plays a crucial role in regional logistics and commodity availability in Southeast Asia and the South Pacific. Indonesia's involvement in the Indo-Pacific Economic Framework (IPEF) demonstrates its commitment to regional stability. Furthermore, the government is intensifying efforts to foster inclusive economic growth through industrialization across various sectors, including downstreaming natural resources and digital initiatives. Initiatives include the development of the petrochemical industry with targets of 30 million tons for olefins and 5.6 million tons for aromatics by 2035, bolstering the automotive industry, semiconductor supply chain development, and enhancing the logistics ecosystem to reduce logistics costs by 8% by 2045.

Source: https://vibiznews.com/2024/03/13/indonesia-berperan-aktif-dorong-pertumbuhan-ekonomi-inklusif/

 

 

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