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The Coordinating Minister for Maritime Affairs and Investment (Menko Marves) Luhut Binsar Pandjaitan was the main speaker at the New Balance Material Summit which was held in Jakarta on Tuesday (9/5/2023). In this activity, Coordinating Minister Luhut expressed his views regarding investment in Indonesia. "Indonesia plays a key role on the global stage because of the size of the country, its strategic location, and abundant natural resources," he said, Tuesday (9/5/2023).

Over the past few years, Indonesia has demonstrated its resilience and strength, especially amidst the global challenges that have occurred over the past few years.

Indonesia's economic recovery continues year after year, so that the economy can grow again and reach above 5 percent in 2022.

"The implementation of downstream policies has so far proven to make a significant contribution to the Indonesian economy, by increasing export values, contributing to GDP, improving the trade balance, employment, developing new growth centers outside Java for equitable development and so on," added Coordinating Minister Luhut.

Indonesia is advancing its economic transformation, changing from selling crude commodities to products that have added value. It is hoped that through this transformation, Indonesia can become a high-income country in 2045.

Investment and current economic development are not limited to the downstream sector, but have also penetrated into the textile industry. After the pandemic, both exports and imports of Indonesian textile products experienced a fairly high upward trend. The government is preparing various incentives to maintain the economy in the textile sector and its products.

Along with increasing economic growth in Indonesia, the purchasing power of the people and the middle class segment has also grown significantly. This development will provide a lucrative market potential for the textile industry in Indonesia.

“In addition, the ongoing investment policy reforms have attracted a lot of new investment into the country. The Indonesian government will continue to carry out reforms in these aspects, "concluded the Coordinating Minister Luhut.