Indonesian Political, Business & Finance News

Commission VII: Enhancing Domestic Products to Strengthen National Industry Competitiveness

| Source: ANTARA_ID Translated from Indonesian | Economy
Commission VII: Enhancing Domestic Products to Strengthen National Industry Competitiveness
Image: ANTARA_ID

Jakarta (ANTARA) - Deputy Chairman of Commission VII of the Indonesian House of Representatives, Lamhot Sinaga, stated that enhancing domestic products (P3DN) will strengthen national competitiveness and boost Indonesia’s economic independence. He fully supports the government’s steps to increase P3DN, including encouraging ministries, agencies, and state-owned enterprises to prioritise spending on local products. “This policy will strengthen the competitiveness of the national industry while enhancing Indonesia’s economic independence amid global uncertainties,” Lamhot said in his statement in Jakarta on Wednesday. Previously, Lamhot supported the Minister of Industry’s steps to strengthen the domestic market through the optimisation of local product usage, which he views as the key to the overall revival of the national industry. According to him, when the national industry rises, job opportunities will open widely. He assesses that optimising local products will also impact the increase in investments in the industrial sector due to the certainty of the domestic market. “Investors will enter if there is demand certainty. When the domestic market is strong, industry will expand, meaning more factories and more workers absorbed,” he said. In addition, Lamhot emphasised the importance of integration between large industries and small and medium enterprises (SMEs) in the national supply chain, so that economic benefits can be felt evenly. The optimisation of local products is also seen as capable of improving national export performance, in line with the increasing quality and competitiveness of Indonesian products in the global market. Data shows that the processing industry sector is also a major contributor to national exports, with a trend of continuously increasing export growth in recent years. Lamhot affirmed that the momentum for the revival of the national industry must be maintained through consistent policies that favour domestic products. “This is the time for us to rise. Industry must become the main locomotive of economic growth, and local products are its fuel,” he said. He also reminded that strengthening the national industry not only impacts economic growth but also social stability through the creation of widespread job opportunities. According to him, with increasing worker absorption, people’s purchasing power will also rise, ultimately strengthening domestic consumption as one of the main pillars of the Indonesian economy. Lamhot is optimistic that with synergy between the government, the House of Representatives, and industry players, Indonesia can make local products the main strength in facing global competition. “If we seriously optimise local products, then we are not only talking about economic growth, but also economic sovereignty,” said Lamhot.

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