Deputy for Investment Cooperation at the Ministry of Investment/BKPM Riyatno said the government was preparing several strategies to achieve investment in the G20 momentum, which is targeted to reach IDR 1,200 trillion by 2022. "The government has prepared several strategies to achieve the investment target set by President Joko Widodo," said Riyatno, in a Media Briefing ahead of the First Meeting of the Trade, Investment, and Industry Working Group (TIIWG), quoted on Sunday, March 27, 2022. He further explained that the strategy included increasing coordination between ministries or agencies and local governments (Pemda) to increase realization in four regions, including Sumatra (Region I), DKI Jakarta and Kalimantan (Region II), West Java and Sulawesi (Region III), and East Java to Papua (Region IV). Another strategy is to list the top 100 investments in each province. This list is expected to be able to facilitate large companies, both foreign investment (PMA) and domestic investment (PMDN). "Furthermore, the establishment of the Investment Realization Acceleration Task Force is aimed at ensuring the realization of investment for domestic investment and foreign investment that already has a business license," said Riyatno.
At the same event, the Director-General of International Trade Negotiations at the Ministry of Trade (Kemendag) Djatmiko Bris Witjaksono said that Indonesia would use the opportunity and privilege as the G20 Presidency to cooperate with other G20 member countries. "In encouraging policy synergy and an economic recovery agenda in the trade, investment and industry sectors to achieve the Sustainable Development Goals (SDGs)," he said. In this regard, Indonesia will raise six priority issues during the TIIWG G20 Meeting. The six issues are the reform of the world trade body or the World Trade Organization (WTO); The role of the Multilateral Trading System to accelerate the achievement of the Sustainable Development Goals (SDGs); and the response of trade, investment and industry to pandemics, and the global health architecture. The next priority issue is digital trade and sustainable global value chains (GVCs), encouraging sustainable investment for global economic recovery, and sustainable inclusive industrialization through Industry 4.0. "As a representative of developing countries, Indonesia through the G20 TIIWG will seek to produce commitments and produce real breakthroughs to contribute more to global economic recovery and accelerate the achievement of the SDGs through the trade, investment and industrial sectors in the six priority issues," explained Djatmiko.
Director-General of Resilience, Territorial and International Industrial Access (KPAII) Ministry of Industry (Kemenperin) Eko S.A. Cahyanto added that industry 4.0 itself is one of the six priority issues at TIIWG, especially related to digitalization which has resulted in a new generation of production and trade systems. "For example, e-commerce has reduced the costs of international trade, as well as connecting more small businesses and consumers globally," he explained. Therefore, the industrial policy at this time must take into account modern digital trade and the adoption of digital technology in the industry. The impact of digitization on commerce and industry cannot be considered separately. "To date, the industrial sector is the largest part of Indonesia's investment and trade portion. In addition, 15% of the economies of the G20 member countries also come from industry. Therefore, the government wants industrial issues to be discussed in depth at this G20 event to restore the economy inclusively and sustainably," concluded Eko.
