At the National Seminar on Indonesian Economic Outlook here on Friday, Hartarto noted that Indonesia needs to revitalize its conventional economic engine by attracting new investment and increasing exports.
To boost the conventional economic engine, the government opens a wider market by completing negotiations on the European Union Comprehensive Economic Partnership Agreement (EU-CEPA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
"The government opens a wider market through the completion of EU-CEPA and CPTPP. We are also targeting the Latin American market and seek to become part of the Organisation for Economic Co-operation and Development (OECD)," Hartarto remarked.
He affirmed that Indonesia needs to maximize the new economic engine that functions as an accelerator of digital growth in the future.
This includes the application of digital and artificial intelligence (AI) in various economic sectors, such as agriculture, manufacturing, health, and transportation, he stated.
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He noted that in future, Indonesia will focus on the semiconductor industry. He drew attention to the increasing demand for semiconductors that are needed for various technology industries.
"Indonesia needs to enter the global semiconductor value chain. We are one of the countries selected and promoted to enter the semiconductor downstreaming ecosystem," the minister stated.
In addition, the minister noted that Indonesia has established cooperation with the United States, Taiwan, Japan, and Korea in human resources' development, manufacturing, and R&D for the semiconductor ecosystem.
Meanwhile, speaking in connection with the third engine, Hartarto highlighted the need to establish a Pancasila-based economic engine, namely a just economic engine. This economic machine will maintain sustainable socio-economic conditions that can be enjoyed by the wider community.
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Translator: Bayu S, Kenzu
Editor: Yuni Arisandy Sinaga
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