Job Creation Law to boost economic growth, create job opportunities

Job Creation Law to boost economic growth, create job opportunities

Minister of Research and Technology Bambang P. S. Brodjonegoro

Jakarta (ANTARA) - Research and Technology Minister Bambang P. S. Brodjonegoro stated that the Job Creation Law, the country's first ever omnibus law comprising 79 laws, will help boost the nation's economic growth and create job opportunities.

"The Job Creation Law will make the downstreaming of research to bring about innovation easier, faster, and more attractive. Hence, it can encourage the spirit of innovation for researchers and innovators, both in research institutions and universities at the central and regional levels, increase collaboration with investors, as research clusters and innovation are clearly stated in the Job Creation Law," Brodjonegoro noted in a statement here on Monday.

The law, which was endorsed by the Parliament on Oct 5, 2020, will strengthen, expedite, and facilitate the downstreaming of research to usher in innovation, as the government can assign BUMN, or state-owned enterprises, to conduct downstreaming, the minister, concurrently head of the National Research and Innovation Agency (BRIN), remarked.

Article 121 of the Job Creation Law seeks to encourage participation in innovation research in the implementation of research and innovation that can be sourced from various alternative rich natural resources and competent and innovative people in the region without overlooking local wisdom.

In future, Indonesia can identify various natural and human resources that are more abundant in order to produce various innovations that can benefit the community and national and international industries, he affirmed.

The Ministry and BRIN have ample experience in helping the Ministry of Villages, Development of Disadvantaged Areas and Transmigration to drive the economy and reduce village poverty levels through the development of the Innovative Village Program and transfer of technology to the community in villages.

Moreover, the Ministry and BRIN have helped Small- and Medium-Scale Enterprises (SMEs) and cooperatives impacted by COVID-19 to innovate in order to increase the added value of their products, thereby boosting competitiveness of their products in the global market.

On the other hand, the COVID-19 pandemic has significantly increased the number of unemployed.

"In 2021, we are targeting the economy to grow between 4.5 and 5.5 percent. The current 'rule of thumb' is, with a one-percent economic growth, 500 thousand new jobs will be created. That means, next year, we may only be able to provide 2.5 million new jobs for the nation's children," he added.

The minister expressed belief that the Job Creation Law would further pave the path for Indonesia to undertake efforts to create more jobs and boost economic growth. Related news: Job Creation Law includes sanction against those damaging forest
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