The Indonesian Chamber of Commerce and Industry (Kadin) is set to release its White Paper on Economic Development and Policy for 2024-2029 on Friday, November 29, 2024. The launch will take place during the National Leadership Meeting (Rapimnas) at the Pullman Hotel Jakarta Central Park in Podomoro City, Jakarta.
A Strategic Guide and Commitment to Economic Growth
This White Paper is a key strategic document proposed by the business community to the government. It will guide the development of the National Medium-Term Development Plan (RPJMN) 2025-2029 and provide policy recommendations to support 17 priority programs, Asta Cita, and President Prabowo Subianto’s goal of 8% annual economic growth.
“Kadin’s White Paper offers a detailed analysis of current challenges and issues, along with key initiatives (bold moves) to address these problems, ensuring its relevance to Indonesia’s conditions over the next five years,” said Kadin Indonesia’s Chairman, Arsjad Rasjid, as quoted by swa.co.id.
Arsjad explained that this study also reflects Kadin’s commitment to supporting President Prabowo Subianto’s administration. Kadin sees itself as a strategic partner in driving the country’s economic growth over the next five years. National business players remain optimistic that the 8% growth target set by the government is achievable, but it requires strong collaboration between the government and the business sector. Kadin plays a crucial role in bridging the two.
“Indonesia’s economy must grow at an average rate of 8% over the next five years. Many may be skeptical, but this target is non-negotiable. Economic transformation and cross-sectoral collaboration are essential to achieving this,” Arsjad stated in Jakarta on November 26, 2024, as reported by infobanknews.com.
Key Initiatives for Growth
The White Paper identifies four strategic pillars: strengthening resilience, promoting welfare, increasing inclusivity, and advancing sustainability. These initiatives are expected to boost GDP growth by 7-8% annually. Arsjad emphasized that the White Paper provides actionable steps for key sectors such as SMEs, digitalization, industry, and energy.
“Some economic programs, like industrial development and digitalization, still need a more concrete approach. The White Paper offers practical guidelines for implementation,” he said in Jakarta on November 26, 2024.
Kadin projects a GDP increase of US$450-500 billion through its key initiatives between 2024-2029. The White Paper highlights seven top growth themes that will contribute more than 80% to the estimated total GDP impact during this period.
These themes include: integrated and accessible infrastructure, healthcare resilience and transformation, energy security, accelerating MSME growth, re-industrializing the manufacturing base, establishing green business development hubs, and building self-sufficient food security ecosystems.
Additionally, Kadin has introduced the Gen 8 program to involve the younger generation in achieving the 8% economic growth target. Kadin believes that if the White Paper’s recommendations are implemented effectively, Indonesia’s overall quality of life will improve.
“To achieve this, we must work together in harmony. Every stakeholder must be involved,” Arsjad emphasized, as quoted by infobanknews.com.
Collaborative Development Process
The development of this 400-page White Paper involved key partners such as the 5P Global Movement, Boston Consulting Group, DayaLima, Hukum Online, Indef, McKinsey & Company, and Gadjah Mada University (UGM), along with 300 industry players and 1,600 Kadin officials from across the country. Over 40 focus group discussions (FGDs) were conducted, also held surveys to gather input for the 2024-2029 development programs.
After the White Paper’s launch, Kadin plans a roadshow to relevant ministries to propose programs that align with the 8% economic growth target. Kadin will also work closely with central and regional governments to strengthen domestic industries and attract investments, as reported by Tempo.co.
Source: infobanknews.com, tempo.co, swa.co.id
Special Image: Humas Kadin via ruangbicara.co.id
