"The four main capitals are connectivity through infrastructure development, including capital city Nusantara; improving human resource governance; optimizing incentives for energy transition and carbon reduction; and social protection and community empowerment for national resilience and political stability," he expounded here on Friday.
Several strategies will be carried out in the future to optimize the four capitals, he said.
One of the strategies will be economic engine revitalization to open new markets through the Pre-Employment Card (PraKerja) program and the implementation of the Job Creation Law.
The strategies will also include the construction of national strategic projects (PSN) and the development of special economic zones (SEZs).
In addition, Indonesia's ongoing accession to the Organisation for Economic Co-operation and Development (OECD) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will support economic revitalization.
Yet another strategy will be economic digitalization by using artificial intelligence (AI), preparing digital talents, and developing data centers.
Hartarto said that strategies are also needed to encourage energy transition and downstreaming in various sectors, strengthen the electric vehicle (EV) ecosystem, and initiate the semiconductor industry.
"Of course, we will carry out social protection, community empowerment through the Smallholder Business Credit (KUR) program, the Free Nutritious Meal program, and school renovations," he added.
The government reported that the extreme poverty rate declined to 0.83 percent as of March 2024, close to the target of zero percent for this year.
Amid the uncertain global economy, Indonesia's economy grew relatively better than other countries.
Indonesia outperformed major economies in the second quarter of this year, with a 5.05 percent year-on-year economic growth rate. This surpassed China's 4.7 percent, Russia's 4 percent, Singapore's 2.9 percent, the United States' 2.8 percent, Italy's 0.9 percent, and the European Union's 0.75 percent.
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Translator: Uyu L, Kenzu
Editor: Aditya Eko Sigit Wicaksono
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