The processing industry was
still the main propeller of national economy and the greatest source of economic
growth in quarter III 2013. Accumulatively the sector posted growth of 5.55%.
Data of the Ministry of Industry had it that non oil-gas processing industry
posted growth of 6.22% while the oil-gas industry contracted by around 3.3%.
With that growth record, growth of non oil gas industry over the first quarter
of 2013 was not only slightly higher than growth of the same period of 2012 but
also higher than national economic growth of only 5.83%.
Although the global economic condition had not fully
recovered from crisis, growth of non-oil gas industry through 2013 was still
showing positive trend. All through the year growth of non oil gas sector
managed to surpass national economic growth. Still, the Ministry of Industry
was pessimistic about the present economic condition. This was set forth by the
Minister of Industry Mohammad S. Hidayat in Jakarta on Tuesday [24/12].
Minister Hidayat felt he could not be too optimistic because the year 2014 was
not exactly a time of crisis but was more of a situation of uncertainty due to
the political climate related to the General Election.
Besides, the restless climate due to the Fed’s act to run
Tappering Off would till February 2014. The Minister of Industry admitted that
by quarter III of 2013 Indonesia’s economic growth was slightly slowing down.
Accumulatively national economic growth through quarter III of 2013 was lower
than accumulative growth of 2012. Somehow Indonesia’s economic growth was by
far still better than that of other Asian countries expect China and the
Philippines which grew by above 7%.
Minister Hidayat disclosed that today he was focusing
effort on preventing mass dismissal in national labor intensive projects in
2014. Labor intensive projects manufacturing sector was predicted to face hard
challenges from global economic slowdown, Rupiah depreciation against USD, increase
of basic electricity tariff and increase of standard provincial minimum wages.
He showed as an example recently the Indonesian textile Association [API] would
dismiss 400,000 workers next year if electricity tariff were increased next
year. The TPT industry sector was one of the leading labor-intensive sectors.
The Ministry of Industry had been preparing strategic
measures to prevent mass dismissal such as by tax holiday over a certain period
and tax allowance for factories as well as Government borne income tax, tax
exemption for sales of luxurious good [PpnBM] and Import Tax. Besides, Hidayat
said, the Ministry would maximize implementation of safeguard instruments and
rescue of national industry, infra structure and benefiting the US and Japanese
markets to the maximum.
The
Ministry of Industry expected increased investment in the industry sector could
maintain performance of the industry sector today. The Ministry of Industry
noted that in January-September 2013 the total value of domestic investment
[PMDN] came to Rp 38.29 trillion, an increase of 0,47% against same period of
2012. Investment in the industry sector contributed 40.68% of total PMDN
investment. Meanwhile total of foreign investment [PMA] of the industry sector
was posted at USD 12.43 billion, an increase of 4.62% against same period of
2012. Investment of industry sector constituted 58.62% of total PMA investment
through January-September 2013.
Business News - December 30, 2013
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