Indonesian Pres. Widodo: Indonesia will open up to more foreign investment


Speaking from his home town of Solo in Central Java, Indonesian President Jokowi told Bloomberg’s Editor-in-Chief John Micklethwait on Thursday, he is aiming to introduce a lot of reform measures and open up more sectors of the economy to foreign investment.

Key Quotes:

it’s his “first priority” to reform the labor rules. 

“Every year there are 3 million new workers in the job market,”

“They must be given room to enter the job market. Second, we want to address investors’ complaints. We have to revise the law and we hope that more investment will create competition among companies to get better workers.”

“Will allow 100% foreign ownership in sectors such as health and education in special economic zones. He’ll also create an “apparel zone” in Central Java to build on the key export industry that already exists in the province, and allow 100% foreign investment in the sector.”

“We compete against other countries in attracting investment, to create jobs.”

“We will work on these two as soon as possible.”

USD/IDR is on a steady decline from above 14,200 levels so far this Thursday, with the above upbeat comments from the Indonesian President adding to the positive tone around the Rupiah.

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