00:00When you campaigned, you gave your desire to increase the growth rate from 5% a year to 8% a year.
00:10What other steps are you taking? What industries do you see coming in the future to Indonesia?
00:16And what would you say to Americans and others about why they should invest in Indonesia today
00:23so you can get that 8% growth rate?
00:26I think 8% is very achievable.
00:32It's very achievable.
00:33As I mentioned to you, for instance, even with this free meal program,
00:39we are creating directly 1.5 million jobs.
00:47Directly.
00:49And each 30,000 kitchens finds 50 people working in the kitchen.
00:56Two or three shifts, so 50 people, times 30,000.
01:01That's 1.5 million.
01:04So the economic experts tell me that 1% growth will create 400,000 jobs.
01:11Well, we created already 1.5 million jobs.
01:19That's 3%.
01:20And that's not even with the 81,000 cooperatives.
01:26There, we calculate, we will also create at least another 15 jobs.
01:33But the beauty of the whole thing is that each kitchen has created 15 local entrepreneurs.
01:48One selling their eggs, the other one selling vegetables, the other one selling fish, this one selling meat, the other one.
02:01So, and each of these 15 vendors or suppliers will have at least 5, 10, or 15 workers.
02:11So far, foreign investors will be witnessing a growing economy which attracts capital.
02:17I think so, I think so, growing economy and if these people have money, what do they do?
02:25They will buy shoes, clothes.
02:29They want to improve their housing.
02:32They want each to buy maybe motorcycle, television.
02:37So, I think this is the way.
02:40I mean, of course, the big guys will want to go to the big things, right?
02:46For instance, we have a lot of minerals.
02:50A lot of critical minerals.
02:54Maybe number 4 or 5 in bauxite.
02:58We are in critical minerals.
03:01We are in, I mean, so I think there's a lot of space for new investment.
03:10We need more exploration for oil and gas.
03:13We need more drilling.
03:20We find out that we have, I think, 30,000, 40,000 old wells with new technology.
03:31We can increase our yield.
03:36So, I think there's a lot of room for investment.
03:40And I think Indonesia must be something that will attract a lot of interest.
03:51to come in because I think not many economies, I think, in the present world enjoy.
04:01Even now, we are growing at 5% a year.
04:04I mean, many other countries are not even growing at all.
04:06You know, 1%, 2%, even.
04:11I just came from Sharm el-Shek.
04:12I meet all the leaders.
04:14And they were, we are exchanging notes.
04:19And many countries are struggling with energy and all that.
04:24And I think we are blessed with so many resources.
04:26But, of course, I'm not satisfied.
04:30We have to manage better our resources.
04:34One of the, a couple of things you're doing.
04:37One is improving tax collection.
04:39And the other is, you may be looking at tax cuts to help stimulate the economy.
04:50fund, Benantara, which has under assets, starting off $1 trillion.
05:04And it not only includes your major banks, but it includes Perdamina.
05:10But also, amazingly, you had 1,000 state-owned businesses that now you're going to rationalize,
05:19because together they're only returning 1% on assets.
05:24So, if you give a boost to the economy.
05:32I think so.
05:33So, I've given direction to the chairman of the Donantara to rationalize everything,
05:45cut down from the 1,000 state-owned enterprise, maybe to more rational figure,
05:54maybe 200 or 230, 240, and then run them with international standards.
06:05So, I am convinced that one or two percent return can increase, must increase.
06:16I think, and I told, I told the Donantara management to run it on an international business standards.
06:31You can look for the best brains, best balance, and I've changed the regulations.
06:39Now, expatriates, non-Indonesians, can be leading our SOEs.
06:46So, I'm very excited.
06:53But because, you know, sometimes, I don't know,
06:57there is some sort of disconnect sometimes between the economic players and the political players,
07:07the political leaders, many political leaders, I think, do not want to do their homework.
07:19Many political leaders maybe are afraid of figures or afraid of business.
07:29So, I think it now behooves all the younger leaders of Indonesia who want to be political leaders.
07:38You must understand business and economics.
07:43I think I heard somewhere, was it under Clinton's campaign somewhere that he put in this campaign room?
07:53It's the economy, I don't know how to translate it into a nation, but it's the economy, stupid.
08:08If you don't understand the economy, you can be fooled by the economists.
08:14Right? So, you must never be intimidated by the so-called experts.
08:24I'm talking to my younger guys.
08:25Thank you.
08:26Thank you.
08:26Thank you.
08:26Thank you.
