Indonesian President urges economic restructuring

Jakarta (VNA) - Indonesian President Joko Widodo has emphasised that the COVID-19 pandemic which has lasted for a year and a half cannot delay structural reform of the national economy.

In his address to the nation on August 16, Widodo said that the structure of the Indonesian economy, in which household consumption contributes more than 55 percent, must continue to be transformed more efficiently by encouraging the downstream industry, investment and export.

The Government is focusing on creating many new quality jobs during the COVID-19 pandemic. One of those measures is to accelerate the implementation of online one-stop-shop (OSS) business licensing.

The President also affirmed that investment is one of the important pillars of the national economy. In the first six months of this year, the total disbursed investment reached 442.8 trillion rupiah (30.8 billion USD), excluding oil and gas exploration and exploitation, and financial services.

He expressed his hope that the total investment this year will reach the target of 900 trillion rupiah, contributing to the creation of many new jobs and promoting economic development.

Also in his speech, President Widodo emphasised the importance of economic transformation based on innovation and technology, towards a green and sustainable economy, affirming that the green economy will be an important change of the Indonesian economy./.