"With the industrial bill coming into effect as a law, we hope that it will lay a firm legal basis for the development of the domestic industry and will provide legal certainty to the domestic companies," DPR Deputy Chairman Pramono Anung said at a House plenary meeting here on Thursday.
According to the Chairman of the House Commission VI Airlangga Hartarto, the law is intended to boost the development of the national industry, which is expected to have a positive impact on the national economy.
"The law is also aimed at building self-reliant, competitive, and modern industries and also preventing certain quarters from having control over the industries," he stated.
He explained that the law gave a mandate to the government on the creation of an industrial development financing institutions.
At the plenary meeting, Industry Minister M.S. Hidayat praised the House for its support to pass the law.
The newly passed law will replace the 30-year-old law No. 5/1984 on industry, he stated.
"Taking into account the internal and external changes in the strategic environment, we have passed the law to renew and guard industrial growth," he remarked.
He noted that the law will allow the country to improve its industrial competitiveness in the face of global competition.(*)
Editor: Heru Purwanto
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