Jakarta. President Joko "Jokowi" Widodo reinstated his belief that investment – and particularly domestic investment – is the key to strengthen national economic growth in a government meeting in Jakarta on Thursday.
"The only way to boost economic growth is through investment," Jokowi said as he opened the 2020 Investment National Coordination Meeting (Rakornas).
According to Jokowi, domestic investment is now the solution for encouraging the economy as the global economic outlook remains sluggish due mainly to the continuing trade war between the United States and China.
The coronavirus outbreak now also presents new challenges for the global economy.
"The global markets are in decline, it's impossible for us to increase exports. The only way [to boost the economy] is through domestic investment," Jokowi said.
The National Coordination Meeting, officially themed "Investment for Advanced Indonesia," was attended by cabinet ministers, district heads, provincial and district secretaries, heads of the Investment and One-Stop Integrated Services Agency (DPMPTSP) and administrators of the Special Economic Zone (KEK).