Jakarta (ANTARA) - Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, has stated that the Organization for Economic Cooperation and Development (OECD) supports an improved investment climate in the country.

In a press statement released on Tuesday, he said that during Indonesia's accession process to become an OECD permanent member, the organization will help develop regulations for a comfortable investment climate in the country.

"The OECD will survey the Indonesian economy. This is one of their forms of support to improve our investment climate and help us be on par with OECD member countries. Investors should be comfortable investing more in Indonesia," he said.

Hartarto conveyed this after accompanying President Joko Widodo to meet OECD Secretary General Mathias Cormann in Bogor, West Java, on Tuesday.

During the meeting, Cormann expressed the OECD's support to help develop Indonesia's semiconductor industry ecosystem.

The industry's development is one of the government's projections for a new economic engine to help achieve the Golden Indonesia 2045 vision, Hartarto remarked.

He highlighted that the semiconductor ecosystem will boost productivity and competitiveness in various manufacturing sectors, including electronics.

The OECD will also study the digital economic roadmap implemented by ASEAN countries, Hartarto added.

"They will also learn about ASEAN's digital economic framework agreement roadmap process, which is also a learning process at the OECD," he said.

He said that during the meeting, President Widodo conveyed Indonesia's commitment to becoming a full member of the OECD within three years.

During Indonesia's accession process, a memorandum will be drafted within the next 250 days, covering 26 sectors such as finance, economics, anti-corruption, fair competition, consumer policy, the digital economy, and technology policy.

Since 2007, Indonesia has held partner status with the OECD, alongside Brazil, India, China, and South Africa.

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Translator: Mentari Dwi G, Resinta Sulistiyandari
Editor: Anton Santoso
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