DAPURPACU – Accelerating economic recovery is a top priority for the Government of Indonesia in welcoming the turn of 2022 which will take place in a few weeks. Finance Minister Sri Mulyani Indrawati explained that the focus of the 2022 State Budget is to maintain the momentum of economic recovery and gradually restore state revenues.
The Ministry of Finance hopes that the stimulus policy will be able to increase public consumption, especially for superior products of the domestic motor vehicle industry as an effort to accelerate the rhythm of national economic recovery after the COVID-19 pandemic.
This regulation also helps Bank Indonesia’s target which has announced that Indonesia’s economic growth forecast in 2022 will reach 4.7-5.5%, driven by the continued improvement in the global economy which has an impact on export performance that remains strong as well as increasing domestic demand from increased consumption and investment.
The growth of the automotive industry, both in the domestic and export markets, has in fact played a role as the locomotive of the national economy. Various policies and regulations rolled out by the Government of Indonesia through the Ministry of Industry have proven to be an active stimulus for increasing domestic vehicle sales and positive export performance. The presence of PPnBM incentives pushed domestic consumption during Jan-Nov 2021 to reach 761 thousand units or a gradual recovery of 81% compared to the previous period during the 2019 pandemic.
Global consumer confidence in national automotive products is also demonstrated by Indonesia’s export achievements. Referring to export performance data for January – November 2021 from the Association of Indonesian Automotive Industries (Gaikindo), whole vehicle exports from Indonesia reached 267 thousand units or recovered around 87% from the same period in 2019.
Meanwhile, the total export of Toyota branded vehicles from Indonesia for Jan-Nov 2021 recorded a figure of 166 thousand units with a projected annual achievement of up to 188 thousand units. This achievement shows that T-Brand’s export performance has recovered to the level of 89% compared to the situation before the pandemic.
“The performance of the Indonesian automotive industry has become a mainstay industrial sector that acts as a support and locomotive for the revival of the national economy. This industry, which contributes to 1.5 million jobs from upstream to downstream, has contributed 4% of Indonesia’s Gross Domestic Product (GDP). We cannot achieve the positive trend of T-brand exports without the support of the Indonesian government through various stimulus and policies to encourage national automotive exports,” said Bob Azam, Director of External Affairs at PT TMMIN.
Toyota Indonesia’s export activities to more than 80 countries also bridge local suppliers to enter the global market through supplier development including IKM to increase their competitiveness. Automotive exports are exports of high-tech products with added value. To close the positive record of automotive export performance at the end of 2021, the Ministry of Trade held the 2021 End of Export Release which will be held at the PT TMMIN Karawang I – II Factory as the main location. [dp/BGS]
Source: dapurpacu.id by dapurpacu.id.
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