Indonesian ambassadors told to help boost exports

Coordinating Economic Minister Darmin Nasution has called on Indonesian ambassadors to help the government boost exports to and investment from the countries they are stationed in.

“We hope you can help us develop exports,” said Darmin when speaking before a number of Indonesian ambassadors at the minister’s office, as quoted by Kompas.com he said his office, together with other ministries, was working to boost exports to avoid another trade deficit this year. According to Statistics Indonesia (BPS) data, Indonesia recorded an US$8.57 billion trade deficit last year as export growth was lower than import growth.

The government has introduced a number of policies to curb the trade deficit, including a levy no the import of consumer goods and the mandatory use of biodiesel. He also called on the Indonesian ambassadors stationed in developing countries to promote investment and highlighted new government incentives for investors. We offer a special incentive scheme for investment in the metal and petrochemical industries,” the minister said, adding that the government was disappointed with investment growth of just 4 percent in 2018, compared to 10 percent in 2017.

The government had also simplified procedures for investors to obtain tax holidays or tax allowances and expanded the number of industries that could enjoy the fiscal incentives. The government’s new online single submission (OSS) system, meanwhile, aimed to help investors arrange their licenses, he said.

Source: https://www.thejakartapost.com/news/2019/02/07/indonesian-ambassadors-told-to-help-boost-exports.html