About the Speaker
Mr Septian Hario Seto, Deputy of Investment and Mining Coordination to the Coordinating Minister for Maritime Affairs and Investments, Republic of Indonesia
About the Discussant
Mr Richard Borsuk, Researching Southeast Asia Pte Ltd; and Adjunct Senior Fellow, S. Rajaratnam School of International Studies (RSIS)
About the Webinar
Attracting new investment is critical for Indonesia’s economic recovery from the current COVID-19 crisis. The pandemic has caused significant setbacks to the country’s economy. According to an estimate by the National Development Planning Ministry, more than 5 million people may lose their jobs this year due to the COVID-19. Indonesia’s GDP is expected to shrink 1.1 percent this year.
Boosting private investment as the main driver of economic growth has been one of President Joko “Jokowi” Widodo’s main priority programs since the outset of his first term in late 2014. This priority continues going into his second term (2019-2024). Moreover, in his annual address to the House of Representatives on August 14, President Jokowi stated that the government will continue focusing on infrastructure development to attract investment.
Nevertheless, the ongoing global health crisis has caused a decline in new foreign direct investment (FDI) into the country. It also has adversely affected the progress of some major investment projects. This webinar will discuss the impact of COVID-19 on investment in Indonesia. It will look at how the pandemic might have led to some adjustments as well as new investment opportunities in some sectors. The speakers will shed light on Indonesia’s policy and strategy in attracting investment.