TEMPO.CO, Jakarta - Industry Minister Airlangga Hartarto reported his achievement during his office term in the first Working Cabinet. He claimed the cabinet of President Jokowi was capable of maintaining the country’s economic and political stability amid the trade war between the United States and China.
“Indonesia’s economy is stable, as well as its politics,” Airlangga said in The Westin, South Jakarta, Thursday, October 17.
Airlangga reiterated that based on the latest statistic data, the country’s trade balance exports in the non-oil and gas sector saw a positive record at US$4.6 billion.
Additionally, the Golkar Party chairman asserted that Indonesia experienced growth in the investment climate, which was attributable to several loose regulations, such as tax holiday for certain business types. The government was also drafting a mini tax holiday for the labor-intensive industry.
Airlangga believed the issuance of a mini tax holiday would boost the growth of the labor-intensive industry by benefitting from the escalating trade war. He said that this was caused by the upcoming diversion of U.S. import goods from China, resulted in the U.S.' cooperation with other countries, including Vietnam and Indonesia.
Seizing this opportunity, Jokowi’s Cabinet Ministers strived to boost the construction of the labor-intensive industry. Besides, the government was developing the capital-intensive industry in Central Java.
Airlangga assured huge investment would enter Indonesia, especially after the country inked the Comprehensive Economic Partnership Agreement (CEPA) with the European Union.
FRANCISCA CHRISTY ROSANA