World

Indonesia promotes infrastructure development projects serving economic development

Indonesian President Joko Widodo has affirmed that his country’s infrastructure construction promotion policy in recent years has stimulated regional connectivity, reduced logistics costs, and supported economic development.
Indonesia promotes infrastructure development projects serving economic development ảnh 1An aerial view of the Trans-Java Toll Road in Semarang taken on December 2, 2023. (Antara Photo/Makna Zaezar)
Jakarta (VNA) - Indonesian President Joko Widodo has affirmed that his country’s infrastructure construction promotion policy in recent years has stimulated regional connectivity, reduced logistics costs, and supported economic development.

The National Development Planning Agency (Bappenas) reported that Indonesia’s logistics costs already accounted for 14.29% of the country’s gross domestic product (GDP) as of September. Logistic costs, however, can go as low as 8% in advanced economies, thus showing that Indonesia still has a lot of work to do.

Talking to infrastructure stakeholders at the State Palace in Jakarta on December 4, Widodo said Indonesia wants to make its logistics costs more efficient as it affects the country's investment competitiveness.

According to the leader, Indonesia’s infrastructure development is still falling behind other countries. Investors would not be able to go to local islands without airports, seaports, or roads, the president said.

Indonesia has set a goal of attracting 1,400 trillion IDR (around 90 billion USD) in investment throughout this year. As of September, the nation had recorded about 1,053 trillion IDR in combined domestic and foreign investment, according to the government data./.
VNA
#Indonesian President#Joko Widodo#National Development Planning Agency#Bappenas#infrastructure development#vietnan news agency#vietnamplus
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