Indonesia Preps Incentives for Textile Industry Players as Export Rises

TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan assessed that the export and import trends for textile products have seen quite a high increase after the COVID-19 pandemic. The government is thus preparing various incentives for textile industry business actors.

“The government is preparing various incentives to maintain the economy in the textile and product sectors,” Luhut said in a written statement on Tuesday, May 9, 2023.

Luhut argued that current investment and economic development are not limited to the downstream sector, but have also penetrated into the textile industry. This development, according to him, will provide a profitable market potential for the textile industry in the archipelago.

Additionally, the national economic growth has now reached above 5 percent for six months in a row. Along with this hike in economic development, Luhut is optimistic that the people’s purchasing power and the middle-class segment will grow significantly. This condition will also encourage increased sales of textile products in the country.

Luhut further revealed that sustainable investment policy reforms have attracted many new investors to the country. “The Indonesian government will continue to carry out reforms in these aspects,” he concluded.

RIANI SANUSI PUTRI

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