"Even though the world is in a financial crisis, Indonesia is still trusted for investment by the world's big companies," he said at the groundbreaking of the Wavin Manufacturing Indonesia factory, which is a part of Orbia, in Batang Integrated Industrial Estate (KITB), Batang district, Central Java, on Monday.
The President then outlined the reasons why Indonesia is still trusted by big global companies. He said that global companies' trust in Indonesia is still high due to the economic and political stability in the country, according to a statement issued by the chief executive officer of Orbia, Sameer Bharadwaj.
It is not easy to gain trust as an investment destination, he highlighted.
"Once a country has been labeled as not good for investment, no country will want to come to our country, and if no one wants to come, what does that mean? We have to import goods from abroad," he said.
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Investment is currently a bone of contention for almost all countries in the world, he noted. Investment can provide added value, create jobs, and increase state revenues.
Therefore, it is one of the drivers of Indonesia's economic growth, he said.
"What we will continue to pursue is any investment because it will once again create huge job opportunities, then the tax will increase our state revenue and foreign exchange reserves," he added.
President Jokowi also inaugurated the laying of the first stone for the construction of the PT Wavin Manufacturing pipe factory, which is one of the business units of Orbia, on Monday.
Meanwhile, Minister of Investment and head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, said that the first phase of the Batang Integrated Industrial Estate’s (KITB’s) development covering an area of 450 hectares and the second phase covering an area of 1 thousand hectares have evinced interest from investors.
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Translator: Indra AP, Azis Kurmala
Editor: Suharto
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