#JakartakeDepan: Jakarta Resilience for Economy and Sustainable Investment

Just recently on Monday, 30th of May 2022, Jakarta investment Centre was held an virtual webinar event alongside with the The webinar was attended by a several distinguished well-known panelists, such as Mr. Mochammad Abbas, Head of the Bureau of Economy and Finance of the Jakarta City Government Secretariat; Mr. Onny Widjanarko, Executive Director - Head of BI Representative for Jakarta City Government; and Mr. Rizal Taufikurahman, Researcher Representative of Institute for Development of Economics and Finance (INDEF). A comprehensive and complete presentation was conducted by each panelist in regards to Jakarta's economic development in several sectors. 

The discussion was supported by the presentation of each speaker that indicated Jakarta will never lose its charm in attracting the foreign investors especially for the tersier sector. In this webinar, the panelists presented their presentation slides which consist of the information and perspective given based on each role in seeing the current economic growth and Jakarta’s development recently. There are three new strategic plans undertaken by the Head of the Bureau of Economy and Finance of the Jakarta City Government Secretariat, in order to support the national gross domestic product (GDP) growth. 

Firstly, the Jakarta City Government will strive to transform Jakarta to become a greater international logistic hub that is able to connect all cities in the Java region. Logistics are predicted to become one of the most prominent markets for Asian countries. In addition to this plan, The Jakarta City Government through the Bureau of Economy and Finance of the Jakarta City Government is planning to work on transforming the industry sector towards the green and more sustainable way.

Alongside with the first initiative, Jakarta City Government plans to generate more capital income coming from a diverse industry. The government is in progress to develop the creative economy that focuses on digital, artificial intelligence, tourism, and supporting the Small-Medium Enterprises (SMEs) onwards. And thirdly, the Jakarta Government strategic plan is to become the economy and investment hub in Indonesia and globally. 

In supporting this strategic plan, the Jakarta Government admits to accelerate the ease in doing business and investment processes along with ratifying the regulations to push forward the creative financing and to provide the investment incentives in several strategic sectors. All these strategic plans are developed to enhance the flexibility for the Regional-Owned Enterprises in doing the direct and private meeting with the potential investors.

The discussion also were supported by the presentation brought by Mr. Onny Widjanarko, Executive Director - Head of BI Representative for Jakarta City Government regarding Jakarta's current economic development; the economic impact for Jakarta due the moving capital city plan to Kalimantan; and the strategy development  formulation both for a long and short term. According to the data and information presented by Mr. Onny, the city's current economic growth is dominated by five sectors, such as trade and retail, construction, finance, information and technology, and manufacturing.

Beside that, according to the data, Jakarta’s economy shares almost reached the highest percentage amongst other cities for GDP in Java Island, for almost 60% in 2018. The economy was dominated by 23% of the Manufactures sector, 15% Retail sector, and 12% of Construction sector. In accordance with this data, Bank Indonesia is projecting the future of Jakarta’s economic development that will be positively affected by the rapid changing of technology transition and towards the green economy and sustainability. 

From the presentation, it can be concluded that there will be new sectors that could become a potential source of the city’s economic growth in the future. The Jakarta Government would take any necessary steps in order to keep up the positive economic growth onwards which includes the restructurizing the policy, expand the export and import area coverage, supporting the collaboration with the private sectors by providing incentives, as well as to navigate the future challenges that might be encountered by the Jakarta government.

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