President Jokowi highlights three key economic and business strategies

President Jokowi highlights three key economic and business strategies

Screenshot - President Joko Widodo (Jokowi). ANTARA/Indra Arief

Jakarta (ANTARA) - President Joko Widodo (Jokowi) shed light on three major strategies in economy and business comprising industrial downstreaming; digitizing Micro, Small and Medium Enterprises (MSMEs); and developing a green economy.

"I think there are three big strategies for our economy. Our country's big strategy in business in the future includes industrial downstreaming, digitizing MSMEs, and the third is we have to start working on realizing a green economy," President Jokowi remarked while attending the virtual event of the 100 Economist Workshop, monitored from the INDEF Youtube channel, here on Thursday.

With focus on industrial downstreaming, Jokowi affirmed that the government had stopped the exports of raw materials, such as nickel, and in future, it will prioritize commodities, such as bauxite, gold, and copper.

The President is keen that all raw materials are processed into value-added and highly competitive products before being exported.

According to Jokowi, this program has already yielded results, for instance, the exports of steel and iron that were valued at US$10.5 billion in the first half of 2021.

"Not only nickel but we will also start (processing) bauxite, gold, and then copper in the future. We also process palm oil commodities into at least semi-finished products or finished goods, so that they produce many derivative products," President Jokowi remarked.

The second strategy is the digitization of MSMEs. The head of state is keen to see more MSME players run digital businesses.

Jokowi noted that as of August 2021, some 15.5 million MSMEs had registered on the digital platform and were projected to penetrate the global market.

"I think this is a transformation that we will continue to push since we have around 60 million MSMEs, all of whom we will encourage to enter the digital platform, whether they are at the regional or national level, so that they can enter the global platform," according to President Jokowi.

Meanwhile, the third strategy pertained to focus on the green economy. The President ensured that the future of green economy products in Indonesia was very promising.

He stated that a green industrial park will be constructed in October 2021.

"We will build a green industrial park that will produce green products, use green energy, renewable energy, and we hope to have maximum ability in future to produce green products resulting from the green economy that we will build this year," according to President Jokowi.

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