Government Confident To Achive 8% Economic Growth

Thursday, 21 Nov 2024

By putri@insightinnews.com Bank Indonesia (BI), in collaboration with the Ministry of Investment and the Investment Coordinating Board (BKPM), expresses confidence that Indonesia can achieve an economic growth rate of 8%. It is well-known that President Prabowo Subianto aims to elevate Indonesia's economic growth to this level during his administration. The Deputy Minister of Investment and Downstreaming, Todotua Pasaribu, indicated that one of the key indicators for reaching this target is the increase in investment and downstream activities. "In the next five years, to achieve the 8% economic growth target, there is a figure provided by Bappenas indicating that approximately Rp13,560 trillion in investments must be generated," explained Todotua. He further emphasized that this investment target can only be met through comprehensive efforts. According to him, a well-thought-out strategy is essential to reach the investment goals. "This includes not only the influx of investments but also, crucially, the realization of these investments, which must add value," added Todotua. In line with this optimistic outlook for economic growth, BI and the Ministry of Investment and Downstreaming signed a Cooperation Agreement (PKS) concerning Licensing in the Financial Sector on Wednesday morning (November 13) at the Bank Indonesia office in Kebon Sirih, Jakarta. This signing coincided with the annual Central Banking Service Excellence Achievement (CB SEA) event for 2024 organized by BI. As a representative of the Ministry of Investment and Downstream Industry/BKPM, Todotua expressed appreciation to Bank Indonesia (BI) for the strong collaboration established to foster a conducive investment climate in Indonesia. He noted that this cooperation agreement is a follow-up to the memorandum of understanding signed last August by the Minister of Investment and Downstream Industry and the Governor of BI, serving as a concrete step to enhance the strategic partnership between the two institutions aimed at improving the ease of the licensing process and providing certainty for investors, particularly in the financial sector. The cooperation agreement between the Ministry of Investment and Downstream Industry/BKPM and BI is a significant factor in facilitating investment, particularly in the realm of digital financial transactions. In her remarks, Senior Deputy Governor Destry Damayanti explained that this agreement represents a commitment between the two institutions to deliver business licensing services in the financial sector based on the principles of PASTI (Professional, Accountable, Simple, Transparent, and Informative). "The increased efficiency in the licensing services within the financial sector will undoubtedly streamline the process of doing business. This supports the government's goal of improving the Ease of Doing Business in Indonesia," Destry stated. This collaboration will be realized through the utilization of data and information related to business licensing in the financial sector from both institutions.

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