"As the country with the largest economy in Southeast Asia and with the most promising demographic bonus, Indonesia remains a strategic gateway to unlocking economic potential in the region," he explained at the UOB Gateway to ASEAN Conference 2023 here on Wednesday.
This potential, he added, is thanks to the fairly good investment climate in the country. Indonesia is seen to become a competitive, alternative manufacturing base and has strong domestic consumption.
However, Tanuwidjaja said he believes that reforms are still needed in a number of economic sectors to maintain the resilience of the investment climate in Indonesia.
These sectors include energy transition, downstream industry, infrastructure optimization, use of technology, and the development of a new capital.
"These reforms will enable Indonesia to achieve higher levels of economic output more sustainably and for the long term," Tanuwidjaja expounded.
Meanwhile, UOB Indonesia said it is optimistic that the development of the downstream industry and the transition toward a green economy in Indonesia will be the key to driving growth and creating opportunities.
The strategy can help increase the added value of the national economy, support environmental conservation targets, and create jobs for long-term growth.
UOB Indonesia estimates that Indonesia's gross domestic product (GDP) will grow to 5.1 percent in 2023 and 5.2 percent in 2024 amid increasing global challenges.
Considering this potential, UOB Indonesia, he said, is committed to help create 1 million jobs in the ASEAN region.
This vision will be pursued by encouraging growth in the ASEAN region through financing and regulatory support for member countries, including Indonesia.
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Translator: Imamatul Silfia, Katriana
Editor: Tia Mutiasari
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