World

Indonesia develops strategy to tackle economic challenges

The BNI Investor Daily Summit 2024 opened in Jakarta on October 8 with theme “Accelerating Resilient Growth.”

Indonesia develops strategy to tackle economic challenges

Jakarta (VNA) – The BNI Investor Daily Summit 2024 opened in Jakarta on October 8 with theme “Accelerating Resilient Growth.”

Organised annually by the state-owned Bank Negara Indonesia (BNI), the forum aims to create opportunities for the government, business leaders, investors, and stakeholders to develop strategies addressing both national and global economic challenges.

The two-day event brings together over 2,000 participants, including ministers, policymakers, entrepreneurs, scholars, and students. Discussions focus on investment and development, giving participants opportunities to exchange ideas and build strategic solutions for Indonesia’s future under President-elect Prabowo Subianto.

In his opening remarks, President Joko Widodo highlighted Asia’s potential as a global economic growth driver, naming India, China, and Indonesia as future economic powers.

However, he acknowledged the challenges posed by global economic downturns and geopolitical tensions. Widodo emphasized the need for Indonesia to leverage its large population, capital, and sustained economic growth rate of over 5% to accelerate development.

BNI Chief Executive Officer Royke Tumilaar noted Indonesia’s strong economic foundation but stressed the need for structural reforms to achieve the "Indonesia Emas 2045" vision. He pointed out that Indonesia's economy is projected to be the second-fastest growing among G20 nations in 2024, trailing only India.

Indonesia aims to raise its per capita income from the current more than 5,000 USD to over 7,000 USD in five years and above 9,000 USD within the next decade. To achieve this, the country must maintain an annual growth rate of over 5%, striving for up to 8%.

The two-day summit features 50 speakers, including four Indonesian ministers, discussing 15 strategic issues related to downstream industries, connectivity, regulatory reforms, and Indonesia's transition to the next stage of economic growth.

The event also includes exhibitions showcasing Indonesia’s distinctive and innovative products./.

VNA
#Indonesia #economic challenges #Vietnam #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

See more

Thailand takes strong action against complicity in cybercrime

Thailand takes strong action against complicity in cybercrime

Airin Phanrit, Deputy Spokesperson for the Prime Minister’s Office, said the damage caused by call centre scams is evident, with some Thais involved in fraudulent activities against their compatriots, including receiving money to open mule accounts. She urged the public, especially young people, not to be tempted by small sums of money to register SIM cards or give personal information to fraudsters for use in online criminal activities.

Indonesian Trade Minister Budi Santoso on the sidelines of the Closing Ceremony of Trade Expo Indonesia (TEI) 2025 at ICE BSD, Tangerang. (Photo:jakartaglobe.id)

Indonesia seeks WTO approval to suspend concessions to EU

The dispute dates back to 2018, when the EU issued a directive restricting the inclusion of crop-based biofuels in member states’ renewable energy targets and set a roadmap to phase out palm oil-based biofuels by 2030, citing concerns over the sustainability of palm oil production.

A motorist refuels at a station in Phnom Penh following a Ministry of Commerce warning against domestic fuel stockpiling. (Photo: Khmer Times)

Cambodia strengthens control over retail fuel sales

Cambodia’s Ministry of Commerce has called on the public and fuel station operators across the country to avoid hoarding fuel and to strictly follow technical safety standards in the sale and storage of petroleum products to prevent safety risks and ensure a stable supply.

Lao Prime Minister Sonexay Siphandone (Photo: Xinhua/VNA)

Laos identifies 10 key tasks to build independent, self-reliant economy

Laos will step up agricultural production to ensure food security, meet domestic demand and expand exports; encourage the development of agro-processing industries, including those related to rubber, aquatic products, cassava and sugarcane, as well as fertiliser and animal feed production, in order to increase added value and create jobs in rural areas.

Illustrative image (Photo: Nikkei)

ASEAN faces startup funding drought risks

ASEAN's startups raised 1.16 billion USD in October-December 2025, slightly down from the same quarter a year earlier. For the full year, funding increased 18% to 5.4 billion USD, but that was still about a fourth of the level seen in the peak year of 2021.

Environment Minister Hanif Faisol Nurofiq speaks to the press in Badung, Bali, on March 5. (Photo: Antara)

Indonesia steps up waste sorting at source

Waste sorting at source, combined with modern treatment technologies and stronger community participation, will play a decisive role in reducing pollution and building a sustainable waste management system in Indonesia in the coming years.

Lao girls in a festival. (Photo: asiakingtravel.com)

Laos marks International Women’s Day

The Lao People’s Revolutionary Party and the Lao Government have established policies and legal frameworks to promote women’s development, safeguard women’s rights and interests, and advance gender equality.

Two children play with a gadget in Jakarta. (Photo: ANTARA)

Indonesia sets age limits on digital platforms to protect children

Minister of Communication and Digital Affairs Meutya Hafid said Government Regulation No. 17 of 2025 on Electronic System Governance for Child Protection, known as PP Tunas, will delay access to high‑risk platforms until age 16, while lower‑risk services will be available from age 13.

Indonesia looks to expand engineering workforce amid AI push

Indonesia looks to expand engineering workforce amid AI push

President of the Institution of Engineers, Indonesia (PII) Ilham Akbar Habibie said the number of engineers per one million people in Indonesia remains low. The country currently has about 2,500 engineers per one million people, compared with around 9,500 in Vietnam – nearly four times higher. He described Vietnam as a typical example of how a nation can rely on engineering to strengthen its economy and drive robust economic growth.

Singapore invests to strengthen food self-reliance

Singapore invests to strengthen food self-reliance

Singapore plans to pump 70 million SGD (55 million USD) over the next five years to help local farms expand production capacity and build capabilities, as the country steps up efforts to strengthen food resilience amid growing global uncertainties.

Thailand announces referendum results on constitutional amendment (Photo: eastasiaforum.org)

Thailand announces results of constitutional amendment referendum

Official results released by the EC and signed by EC Chairman Narong Klanwarin show that a majority of Thai voters (58.64%) supported the amendment of the current Constitution. Meanwhile, 30.46% voted against, 8.34% cast blank ballots, and 2.56% of the votes were invalid.

Illustrative photo: Internet

Guangxi strengthens ASEAN – China trade connectivity

China has remained ASEAN’s largest trading partner for 17 consecutive years, while ASEAN has held the position as China’s top trading partner for the past six years. Guangxi, the only Chinese region linked to ASEAN by both land and sea, plays a strategic role in connecting the two markets.

Malaysian Minister of Investment, Trade and Industry Johari Abdul Ghani (Photo: Bernama)

Malaysia boosts exports to CPTPP member countries

Through the CPTPP, exporters can access non-traditional markets such as Canada, Mexico and Peru and, for the first time, gain preferential access to the UK market, which had previously been subject to regular tariffs, said a Malaysian official.