Jokowi emphasizes three steps to tackle global recession

Jokowi emphasizes three steps to tackle global recession

President Joko Widodo delivered his speech at the ASEAN-Republic of Korea (ASEAN-RoK) CEO Summit in Busan, South Korea, on Monday (Nov 25, 2019). ANTARA/Joko Susilo

The ASEAN and Korea must champion the development of renewable energy in the region
Busan, South Korea (ANTARA) - President Joko Widodo (Jokowi) has drawn focus to three steps deemed necessary for ASEAN member countries and Korea to face global recession and challenges that lie ahead.

"The global economic recession could destroy the global economic and financial system and create a sense of distrust toward world economic institutions," Jokowi stated while speaking at the ASEAN-Republic of Korea (ASEAN-RoK) CEO Summit in Busan, South Korea, on Monday.

He expressed optimism that ASEAN member countries and South Korea would be adept at facing the challenges and making breakthroughs to stall a further plunge in the regional economy.

The president noted that the first of the three steps prioritized quality infrastructure development.

"Indonesia will organize an infrastructure and connectivity forum for the Indo-Pacific region. I invite all business players to grab infrastructure and connectivity (projects) in Indonesia and the Indo- Pacific region," he stated.

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Indonesia will also focus on streamlining regulations to attract investors through the revision of 74 laws viewed as posing a hindrance to investment.

"We will soon revise 74 laws that could hinder investment. I have ordered that it should be completed in the near future," he explained.

The second step seeks to bring about an improvement in the quality of human resources deemed paramount for a country to make a notable economic leap.

"To this end, revitalizing education to create a link and match between education and the work place is a must," he stated.

Jokowi expounded that the third step pertained to renewable energy development.

"The ASEAN and Korea must champion the development of renewable energy in the region," he remarked.

Indonesia has obligated to use the 20-percent biodiesel blend B20.

"Next year, we will meet the obligation to use the 30-percent biodiesel blend B30," he stated.

Furthermore, Indonesia will construct hydropower plants to drive large-scale electricity generation, especially in North Kalimantan and Papua provinces.

"The development of this renewable energy will produce low emission. This is our commitment to the Paris Agreement," he added.

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