Kamar Dagang dan Industri (Kadin) Indonesia akan menggelar Rapat Pimpinan Nasional (Rapimnas). Rencananya, Rapimnas dilaksanakan pada 29 November hingga 1 Desember 2024. Ada sejumlah agenda yang digelar dalam forum tersebut, di antaranya membahas beberapa isu strategis terkait target pertumbuhan ekonomi nasional di level 8%. Selaku mitra Pemerintah, forum para pengusaha Indonesia ini diharapkan mampu menghasilkan inisiatif untuk mendukung program Presiden dan Wakil Presiden.
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00:00Thank you for joining us. Before we proceed with our discussion, this morning with Narasembur there are some interesting data for us to discuss, especially from the market movement.
00:15In the past, Indonesia was on vacation from Asia because it was in the middle of an election.
00:22From China, there is data on the profits of the Chinese industry since January 1st, 2024.
00:28Then from the United States, there is the result of the FOMC meeting and there is data on continued unemployment claims and initial unemployment claims.
00:36From the EMI10 agenda, which is interesting for us to discuss, you can watch it on the television screen.
00:46Asia's major stock markets
00:49Next, we will watch the opening of Asia's major stock markets this morning.
00:56Asia's major stock markets this morning opened mixed with Nikkei weakening by 0.14% at level 38,081.
01:05Singapore's SDI opened weakening by 0.2% at level 3,715.
01:09Then, Korea's KOSPI opened weakening by 0.12% at level 2,506 and Hong Kong's Hang Seng opened weakening by 0.23%.
01:17Indonesia's Trade and Industry Commission
01:27Indonesia's Trade and Industry Commission will hold a meeting of the National Leadership Council or RAPIMNAS.
01:33The RAPIMNAS plan will be implemented on November 29th until December 1st, 2024.
01:39There are a number of agendas held in the forum, especially the programs led by Prabowo Subianto and Gibran Raka Buming Raka
01:46and the government's programs will be synergized with the interests of entrepreneurs in Indonesia.
01:51For that, this morning we will discuss with Mr. Bobi Gafur Umar,
01:56who is the Deputy Chairman of the Coordinator of Investments, Hilirisasi, and Environment of Kadin Indonesia.
02:03How are you, Mr. Bobi?
02:04Good morning, Mr. Gafur.
02:05Good morning, thank you for joining us on MarketBus,
02:08talking about the hearing of the National Leadership Council yesterday, so far, or maybe the case is in Jakarta.
02:13What is your opinion on the results of the hearing?
02:16So this is a very long list of voters yesterday.
02:22Alhamdulillah, we were able to get through it well,
02:25and of course we already have a new government with a growth target of up to 8%,
02:32which we hope can cause breakthroughs in the economic sector.
02:38Macro-wise, our economy is in a condition that needs attention.
02:46Our economic growth is estimated at around 5%.
02:51In the third quarter yesterday, it was slightly below 5%, but the other figures are quite good.
02:57Such as the inflation rate is maintained,
03:00but we need to pay attention to the deflation rate for the past 6 months.
03:07This deflation rate is not a good sign.
03:10There are signs of very limited purchasing power,
03:15and the next thing we can see, if we look at the industry,
03:20is the number of PMI manufacturers.
03:24After 35 consecutive months, Indonesia has grown by more than 50%.
03:31Yesterday was the fourth month, the figure was below 50%.
03:36What does it mean? Our industry did not grow.
03:38While the industry sector is the largest contributor to the GDP,
03:45at around 16.7%.
03:48If we want to grow to the previous 8%,
03:54the industry sector must be able to contribute 28%.
03:58With that, the new government must take extraordinary steps and make breakthroughs.
04:07Not only collaborating with the central government,
04:11but Indonesia or the central government will coordinate with the regional government,
04:15hoping that the policies will support the economic growth in Indonesia,
04:19and the growth of the business world.
04:21If we talk about the problems of the nation,
04:24what are the problems that businessmen need to solve immediately, Mr. Bobby?
04:34If we look at the President's speech,
04:36from the beginning of the interview,
04:38to his visit abroad yesterday,
04:42he emphasized how we can eradicate poverty,
04:47especially extreme poverty.
04:49This will be one of the main pillars of Ratina Skadin.
04:55But again, we know that the small and medium enterprises
05:00contribute the largest GDP, 61% of the economic growth,
05:05and 90% of the workforce is there.
05:08How can the government support this?
05:11Because if this is pushed,
05:13we will automatically be able to increase the others.
05:17But again, our economy in the next 6 months
05:23is very dependent on the world economy.
05:26The US President's election is just over,
05:30and Trump was elected.
05:32This is quite shaky.
05:35There are several challenges posed by various parties
05:39related to Trump's election as President of the United States.
05:43But in the challenges, of course, there are opportunities
05:46that can be explored.
05:48Moreover, if we talk about the strategy of the business world,
05:51there is always a strategy to survive and continue to grow.
05:55Okay, let's talk about the contribution of the business world itself,
05:58of course, to solve various problems.
06:01This challenge has been laid out, more or less.
06:05Mr. Bobby, you mentioned earlier
06:07how the joint effort to reduce poverty,
06:10to improve welfare,
06:12of course, this also creates jobs
06:14that have a delaying effect for consumption,
06:18which then continues to increase.
06:20What kind of contribution, Mr. Bobby?
06:22So now, from the business world sector,
06:26there are some that are still the main contributors.
06:30In terms of exports,
06:32we are still the biggest contributor from two sectors.
06:36That is coal sales and from CPO.
06:40We hope this will continue to increase.
06:42One of the successes is the hillarization.
06:45If we look at nickel,
06:47its contribution is quite large.
06:49From 2014, it was only around one billion dollars.
06:53In the end, we can get a deficit of up to 300 trillion.
06:57If we can expand this hillarization sector,
07:01this can be one of the biggest contributions.
07:04But now we have to see
07:07how the small and medium enterprises sector,
07:10especially how the people's economy can be pushed up.
07:14Because it has a lot of potential.
07:16This is the role of the government.
07:18We know that the small and medium enterprises sector has three weaknesses.
07:22First, market access.
07:24Second, capital.
07:26Third, in terms of SDM and quality.
07:30We have to build this.
07:32We provide the market, we build it,
07:34so that they can improve their class,
07:36and SDM ability and production quality.
07:39So that the economic movement will be large.
07:4261% of the contributors are from there.
07:45If we look at it again,
07:47the problems from the point of view of the business world,
07:50which has been the most challenging so far.
07:55If it is written like that,
07:57what is it?
07:59How to maintain economic growth,
08:01control inflation,
08:03from the point of view of the business world, what is it like?
08:06Back again,
08:08one of the factors that we have to pay attention to
08:12is how we can push investment in.
08:16Investment is very important.
08:18So what is needed for investment
08:20is one of the factors of risk mitigation.
08:23Yesterday, a lot of people refused to invest.
08:27Especially from the foreign sector.
08:29Why?
08:30Because there was uncertainty during the election.
08:34But thank God, yesterday the election was smooth.
08:37So if all of this has passed,
08:41what is needed is how the government
08:43maintains legal certainty from that investment.
08:46If investment can enter,
08:48this is a very strong driver.
08:50Why?
08:51Because we can create new jobs.
08:54We can create new development sectors.
08:58Indonesia has been relying a lot on economic growth
09:03from the government itself,
09:05through APBN and also BUMN.
09:08Well, it can't be.
09:10Growth must be contributed
09:1520% from the government sector.
09:18But from private sector and investment, 80%.
09:22So, we see the new government,
09:27the cabinet is in place,
09:29we can see their steps.
09:33What do we need?
09:35What are these new ministers,
09:37these new ministers,
09:39that will be done in the first six months
09:41of their government?
09:43The most important thing is how to consolidate
09:45in the internal cabinet
09:47between the central government and entrepreneurs.
09:49So that it can have a strong effect
09:53on Indonesia's economy that keeps growing.
09:55Mr. Wibi.
09:56Let's continue with the next segment.
09:58We will be right back.
10:01Thank you for joining us.
10:03We are still discussing the synergy
10:05between business and government
10:07for Indonesia's economy to grow.
10:09And we are still discussing with Mr. Bobby Gafur Umar,
10:12who is the Deputy Chairman and Coordinator
10:14for Investing, Hillarization, and Environment
10:16at Kadin Indonesia.
10:18Mr. Bobby, we have talked about
10:21the global economic challenges.
10:23This also affects Indonesia's economic development.
10:26From the United States, we have discussed
10:28but what happened in China
10:30also became a concern.
10:32Especially regarding the economic slowdown there.
10:35What is this like, Mr. Bobby?
10:37So, if Trump wins,
10:40the trade war with China
10:42will continue and become more intense.
10:44China will be tariffed a lot
10:46for its products.
10:48China's economic growth is around 5%.
10:50So, while our export market
10:53to China is huge.
10:55If China can't sell its products
10:58to the United States and its friends,
11:00such as Europe,
11:02then what we are worried about
11:04is that China's products will be flooded
11:06to our country.
11:07Whereas, with a global situation like this,
11:10the domestic market becomes a hope
11:13for how Indonesian products
11:15can be sold in their own markets.
11:17And there were cases of illegal imports from China.
11:23So, I think the government must be consistent
11:25in maintaining the domestic market
11:27in this situation.
11:28Okay, because what will be affected
11:31is the people in the economy
11:33of the middle and lower class,
11:35especially the MSMEs,
11:36who are also affected
11:38by this illegal import.
11:40We are talking about Rapimnas,
11:42which will be held on November 29th
11:44until December 1st, 2024,
11:46in Jakarta.
11:47In Jakarta.
11:48Okay.
11:49The narrative that will be brought and discussed,
11:51what is it like?
11:53Okay, all this time, we have always seen
11:55how to build Indonesia
11:57with a high-level economy,
12:00such as industrialization,
12:02then infrastructure development,
12:06and energy transition,
12:08which we have forgotten.
12:10We have forgotten how
12:1261% of the contribution from MSMEs
12:15can be pushed forward.
12:16So, the economy of the people
12:18is actually an extraordinary machine.
12:21Ngakadin, at Rapimnas,
12:23will try to see
12:26how the collaboration
12:28between the business world
12:29to be able to invite
12:31sectors with circular economy,
12:34we can push it there.
12:36Because this has a direct effect
12:38on poverty alleviation.
12:40Okay.
12:41Of course, there is a kind of collaboration,
12:45or maybe programs that will be synergized
12:48with government programs,
12:50from the perspective of entrepreneurs.
12:52Programs that will soon be executed
12:54from Indonesia's own Kadin,
12:56at Rapimnas,
12:57have you imagined this, Mr. Bobby?
13:00Yes, so we are
13:02the head of the MSMEs,
13:04in accordance with their field,
13:05are now working on a program
13:08for the 2025 employment program.
13:11And this will involve Kadinda,
13:13Kadinda in the region.
13:14So, one MSME
13:16has at least three regions.
13:20With this region,
13:22we will be able to push faster
13:25how the collaboration
13:27between the center and the region.
13:29We see once again,
13:31how the job market
13:33in the MSME sector
13:35can be created with this collaboration.
13:37For example, there is a big company
13:40in the automotive sector.
13:42We ask for cooperation
13:44with small industries
13:46that can be the suppliers.
13:48Small industries that can be
13:50the extension of products
13:52that were previously
13:54made in the main factory,
13:57can be partially step by step,
13:59like Japan.
14:00We train these small industries
14:02to be the suppliers.
14:04But once again,
14:07there are many potential areas
14:09that are not yet open.
14:11For example, in North Sulawesi,
14:13there is Bitung.
14:14Now, Bitung is
14:16in the north of Indonesia,
14:19a fish pond.
14:20There are many fishermen,
14:22fishermen groups,
14:23how can we help
14:25from the side of the big business world,
14:28we say,
14:30it's like investing in mining,
14:32cooperating with these fishermen groups.
14:34We will do this in Rapinas.
14:37Later, we will give recommendations
14:39to the new government,
14:41what we can do
14:43in a synergistic way,
14:45government, big business,
14:47with these small and medium businesses.
14:50At the same time,
14:52the government can realize
14:54or facilitate realization
14:56of foreign direct investment.
14:57There are also collaborations
14:59in domestic,
15:01which may create
15:03new opportunities,
15:05new jobs,
15:07which in the end will strengthen
15:09the purchasing power of the community.
15:11Yes, but there is one thing that is needed,
15:13how liquidity exists
15:15for these small and medium businesses.
15:17Then, how the lower communities
15:20can have capital.
15:23I think this is one of the
15:25recommendations that we will give.
15:27The government must have a special scheme
15:30to give capital to them.
15:32Yesterday it was good,
15:34there is a plan to eliminate debts
15:36that have been a problem for several years.
15:40We will formulate that.
15:43Later, after Rapinas,
15:45we will deliver it to the government.
15:47Okay, are there BWMN banks
15:49that have been invited to join Rapinas?
15:51At the moment, the bank has not yet,
15:54because we want to absorb first
15:56what the potential is,
15:58and then what the package program is.
16:01Because if it develops,
16:03of course we have to look at it,
16:05like BRI.
16:06Then for the housing sector,
16:08there is BTN.
16:10The government wants to have a program,
16:13for example, 3 million houses per year.
16:16That's it,
16:17more than 180 industries will be involved.
16:20This industry is not just a big industry,
16:22there are many small industries,
16:24contractors in the area,
16:25to support the development of these 3 million houses.
16:28Kading will see that.
16:30Okay, and also highlight that.
16:32Talking about the target of economic growth
16:35from the government itself,
16:368%, this is a very optimistic growth target.
16:41But actually, how do entrepreneurs translate this, Mr. Bobby?
16:468%, if I look at it macro,
16:51the macro is indeed challenging.
16:54But it should be,
16:55if we can open a simple economy,
16:58with programs like nutritious food,
17:02free lunch,
17:04imagine, one day we can have 80 million eggs.
17:07It is needed.
17:08Now, if we can pull this,
17:10we can pull the economic population up,
17:13I think this growth can even be above 8%.
17:16That's why this collaboration,
17:19this synergy will hopefully open those conclusions, Mr. Bobby?
17:23Yes.
17:24Okay.
17:25Then how do you see the synergy
17:27between government priority programs
17:29and future entrepreneurs?
17:31How should this be an effort
17:35that can be pursued,
17:37or pushed, or prioritized?
17:40So, the government,
17:42Mr. Prabowo and Mr. Gibran
17:45have campaign promises.
17:48There are 8 priorities.
17:51There are 17 priority programs.
17:54Starting from food resources,
17:56energy, water,
17:58to how to improve the economy,
18:02health, education.
18:04Now, this has to be poured into the work program of the ministry.
18:08Now, in the beginning, this is very important.
18:11So, Mr. Din, after meeting with Mr. Imnaz,
18:13will give recommendations to the government
18:16to include this recommendation as part of the program.
18:20Now, big entrepreneurs,
18:22both in the central and regional areas,
18:24we will ask the government, of course,
18:27not just the central government,
18:29the regional government,
18:30to collaborate to move this economic population.
18:32Right.
18:33Interesting.
18:34I hope it goes well.
18:35Amen.
18:36Lastly, the hope,
18:37related to business,
18:38and also collaboration between entrepreneurs
18:40and the government in the future,
18:41what do you think, Mr. Bobby?
18:43The hope,
18:44our hope, of course,
18:45after the election is over,
18:47the political issues will be over.
18:49So, now,
18:51we've been tired for a year.
18:53In the beginning of next year,
18:54we look forward to new things.
18:56Hopefully, inflation is maintained,
18:58liquidity is there,
19:00the macro is not getting worse,
19:03so we, as entrepreneurs,
19:05look forward more optimistically.
19:08The political year has passed,
19:10it's time for consolidation.
19:11Right.
19:12Compact, together,
19:13to see the problems of the nation in the future,
19:15solved together,
19:16more or less like that.
19:17Mr. Bobby, thank you for joining us.
19:19Success for the tidiness later,
19:20at the end of November until the beginning of December.
19:22Hopefully, the output later
19:24can make a positive contribution
19:26for Indonesia's economy,
19:27which continues to grow.
19:28Success for you, I salute you.
19:30And, for example, before I finish,
19:31we will take a look at the movement
19:33or update from IHSG,
19:36in trade,
19:37at 9 o'clock,
19:38more than 08 minutes,
19:39Indonesian time,
19:40the western part,
19:41as you can see in Light Levices,
19:43so far, IHSG is moving
19:45to 0.27% weakness
19:47at level 7226.050.
19:50And SAMSAM,
19:51which is directly in the top gainers list,
19:53including INPC,
19:54AMMN,
19:55BRMS,
19:56JIHD,
19:57PSAB,
19:58Unilever,
19:59MAYA,
20:00ANTAM,
20:01SMGR,
20:02and also HEAL.
20:03While top losers,
20:04there is ADARO,
20:05AMRT,
20:06then there is FILM,
20:07NIKE,
20:08ISAT,
20:09TINS,
20:10and ALA.
20:17One more time,
20:18we will present information updates,
20:20including related to Indonesia's lack of
20:22oncology specialist doctors.
20:24The Ministry of Health admitted
20:25that it will prepare a scholarship.
20:27MarketBass will be back next week.