Indonesia launches steps to improve manufacturing sector performance

0 Comment(s)Print E-mail Xinhua, September 5, 2019
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JAKARTA, Sept. 4 (Xinhua) -- Indonesian government, the central bank of Bank Indonesia (BI) and the Financial Service Authorities jointly launched on Wednesday the six steps to improve performance of national manufacturing sector amid decreasing contribution of the sector to the nation's economic growth.

Speaking on the sidelines of the event to launch the steps, BI Governor Perry Warjiyo said that immediate moves to improve manufacturing sector is essential as it is closely related with activities to address growth and fixing the continuing deficit in the nation's foreign trade balance.

"Initial implementation of the steps would be focused on textile and garment, automotive, footwear industries and manufactures that support those industries," Perry said.

The six steps to boost national manufacturing sector comprised of logistic distribution improvement, integrated online process to organize investment permit, harmonizing the regulation and implementation of industrial policies, improved payment system, green financing and promotion program.

Indonesia saw continuing decrease of manufacturing sector contribution to the nation's growth for years. The sector's contribution to growth was 19.52 percent in the second quarter this year, lower than 19.8 percent in the same period last year. Enditem

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