From: Antara NewsJakarta (ANTARA News) - The government is promoting the growth of five prioritized industries considered able to become the engine for the industry to grow more than seven percent in 2014.
Industry Minister MS Hidayat said here on Friday the four prioritized industries are manufacturing, processing, automotive, petrochemical and oleochemical.
"So, 4.5 years more industry will grow more than seven percent. In the first quarter this year, industry has grown 4.3 percent up from last year which was recorded at only two percent," he said at a ceremony marking the extension of PT Indopoly Swakarsa Industry.
With regard to processing industry Hidayat said the government is emphasizing the development of industries that produce derivatives and with regard to automotive sector it is targeting making the country the base of the industry.
"I have an ambition of moving the production base here while Thailand is now dealing with political conflicts," he said.
With regard to petrochemical industry Hidayat said Indonesia wished to be able to produce naphta and condensate so that it would not import again. "That is my ambition to strengthen national industries," he said.
The government meanwhile is pushing for growth of downstream industries that give a large added value in the oleochemical sector, he said.
Head of the Capital Investment Coordinating Board, Gita Wirjawan, said he was optimistic the government target of drawing Rp1,000 trillion in investment would be achieved through fiscal incentives.
"If the government gives a tax cut, let us say, 100 to businessmen the tax benefit to be enjoyed could be more than 100," he said. (*)