Jakarta: Indonesian President Joko Widodo (Jokowi) on Wednesday took part in a dialogue with global business leaders.
The event was hosted by Klaus Schwab, Founder and Executive Chairman of the World Economic Forum (WEF).
The dialogue focused on the need for deeper public-private cooperation – currently focused on helping manage the covid-19 pandemic – as well as providing a boost to the country’s economic recovery.
Indonesia is currently experiencing its first recession in 22 years, and like many nations, is in the midst of tackling the pandemic; the country surpassed half a million confirmed cases of the disease this week.
"I would like to express my appreciation to the World Economic Forum for hosting the Country Strategy Dialogue on Indonesia at such a pivotal time for our country and the world," said President Jokowi.
"The Government of Indonesia remains strongly committed to engaging in public-private partnerships that support the country’s path towards sustainable and resilient economic recovery," he stated.
In his opening remarks, the president said that the enactment of the Omnibus Law will help improve Indonesia’s investment climate and legal certainty.
"Significant support from the business community in its implementation is essential, as it will add value to the government’s efforts in handling the pandemic and supporting economic recovery in a balanced and synergetic manner," he stated.
More than 50 global business leaders took part in an interactive virtual discussion, during which they listened and offered suggestions to the president and members of his cabinet, who laid out their plans for economic revival.
The president emphasized measures his government would be taking to manage the spread of covid-19. The focus is on providing treatment and ultimately vaccinations for the population, while also cutting red tape to fast-track needed investment aimed at restoring Indonesia’s growth and securing its competitiveness post-pandemic.
Several important cabinet members, including Erick Thohir, Minister of State-Owned Enterprises and Retno L. P. Marsudi, Minister of Foreign Affairs, and Luhut B. Pandjaitan, Coordinating Minister for Maritime Affairs and Investment, took part in the dialogue.
They presented details of the planned establishment of the country’s multibillion dollar sovereign wealth funds, implementation of the Job Creation Laws and planned investment incentives, as well as prioritizing environmental sustainability in recovery efforts, to ensure the country’s leadership in the area of green growth.
Global chief executive officers responded by presenting their plans for further investment and offered suggestions for collaboration.
The Indonesian government and the WEF have agreed to continue the dialogue aimed at developing multistakeholder solutions in areas such as mainstreaming low-carbon investments, supporting Micro Small and Medium-sized Enterprises (MSME) through reskilling and upskilling, and building long-term resilience for the country’s travel and tourism sector.