Banten (ANTARA) - Minister of State-Owned Enterprises (SOEs) Erick Thohir stated that Indonesia’s economy can potentially grow amid the recession in Japan and the United Kingdom.

“We surely hope for better economic growth next year. If today ('s economic growth is at) 5.05 percent, we might reach 5.5 percent next year. When many countries experience a recession, there is a chance for Indonesia to grow. (It depends on) whether we can do it or not,” he remarked.

Thohir made the statement at the PT Bank Negara Indonesia (BNI) Central Business District (CBD) building construction groundbreaking event in Tangerang, Banten, on Tuesday.

He underscored the need for Indonesia to create a friendlier market for investors to boost the country’s economy.

The effort should be accompanied by consolidation between the central and regional governments in easing investment licensing to attract capital investment. In this way, the private sector and SOEs can encourage economic growth.

He is also upbeat that the National Armed Forces (TNI) and the National Police (Polri) will maintain security to ensure capital investment in Indonesia.

“The UK and Japan are experiencing recession. When other countries experience economic slowdowns, there is an opportunity for us to accelerate ours. Now, the context is, can we constantly introspect to become more market-friendly to investors?” he stressed.

A thorough collaboration between SOEs and the private sector is the key to growing Indonesia’s economy.

Looking at the domestic banking industry, the five biggest banks from the private sector are Panin Bank, Permata Bank, CIMB Niaga, OCBC, and BCA, whereas the five other big banks from SOEs are: Bank Mandiri, BRI, BTN, BSI, and BNI.

“That is the reality of healthy competition. Both SOEs and the private sector do not monopolize (the market). The balance of a healthy competition must be grown,” Thohir stated.

In comparison, Thailand’s per capita gross domestic product (GDP), which peaked at US$10,000 in 2010, is currently facing a decrease. Concurrently, Indonesia’s economic growth is approaching the growth phase, and the country is striving to boost its per capita GDP to reach US$10,000 in 2028 or 2030.

“I welcome collaboration so that we can truly maintain stability, as this is the key to growing job opportunities through prosperity and stability,” Thohir affirmed.

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