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View all search resultsIndustry Ministry to provide incentives, curb imports to help manufacturers
The industry minister has announced increased digitalization, a focus on the green and blue economy as well as measures to keep out imports in a bid to help domestic manufacturers.
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Industry Minister Agus Gumiwang participates in a work meeting with House of Representatives Commission VI on June 2, 2021. (BeritaSatu Photo/Ruht Semiono)
T
he Industry Ministry has announced a host of measures to support the manufacturing sector at a time when consumer spending alone cannot be relied upon to lift domestic economic growth.
Industry Minister Agus Gumiwang Kartasasmita explained on Wednesday that the strategies included technological advancement, a focus on the so-called green economy and blue economy, incentives for producers as well as nontariff measures against imports.
With regard to the first strategy, Agus said the ministry planned to build an Indonesian Manufacturing Center, which was aimed at reducing the use of imported machinery by increasing the domestic production of substitutes.
For green and blue economic development, meanwhile, the ministry aims to get more industries to implement what the minister referred to as “green industry” and adopt a circular economy concept.
“Should everything go according to plan, Indonesia will be among the 10 largest economies in the world by 2030,” he told House of Representatives Commission VII, which oversees energy and mineral resources, during a virtual work meeting in Jakarta last week.
Read also: Green,digital, downstream: Jokowi’s new economic strategy
Elaborating on the third strategy, Agus said the ministry had requested to extend the luxury tax (PPnBM) waiver until year-end to support automotive industries.
