Jakarta Holds Economic and Investment Webinar for Sustainable Progress

The Jakarta Public Policy Center for Jakarta Human Resources Development Agency (BPSDM) holds the #JakartakeDepan Webinar with the theme of 'Resilient Jakarta: Economy and Investment for Sustainable Development' by inviting speakers namely Jakarta Secretariat Economics and Finance Bureau Head Mochamad Abbas, Bank Indonesia Jakarta Representative Office Executive Director Head Onny Widjanarko, Researcher fr om Institute for Development of Economics and Finance (INDEF) Rizal Taufikurahman.

Jakarta's economic performance has a very strategic and important role for the development of national economy

The material discussed in the webinar was related to efforts to maintain the largest economic contribution to National GDP, develop a strategy for economic development in Jakarta as a global city, maintain the largest business contribution in Jakarta, and grow new urban economic sources, investment, and financial centers.

Other materials were related to the development of key sectors and potential sectors in Jakarta for sustainable development, the latest macroeconomic conditions in Jakarta, Jakarta's policy strategy after not becoming a state capital, breakthroughs, and innovative approaches to financing Jakarta in the future in supporting the resilience and economic development of Jakarta.

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For information, Jakarta Government had initiated the Jakarta Future Study in form of a webinar to socialize the process of drafting the Jakarta Specificity Bill and its Academic Draft.

The webinar was expected to gather inputs and aspirations from various parties, both from government, agencies, academics or universities, research institutions, associations, and communities in the economic and investment fields.

Jakarta Secretary Assistant for Economy and Finance (Perkeu) Sri Haryati mentioned that the Government is currently preparing the Academic Draft and Jakarta Specificity Bill.

According to her, the Law (UU) related to the new state capital had been issued. The regulation had mandated Jakarta to issue a Specificity Law and submit it to the Ministry of Home Affairs to be discussed with DPR at the Central Government level.

"Hopefully, the concept of Academic Draft and Jakarta Specificity Bill that we propose to the Central Government can be more perfect," she expressed, Monday (5/30).

As the state capital, she continued, Jakarta's economic activity became a barometer of economic activity for other regions in Indonesia. In 2021, Jakarta had contributed 17.19 percent to the national economy.

"Jakarta's economic performance has a very strategic and important role in the development of the national economy," she stated.

She conveyed that in the first quarter of 2022, Jakarta's economy grew by 4.63 percent (YoY), which showed an increase from the first quarter in 2021 by -1.91 percent (YoY).

Growth in the demand was driven by increased consumption expenditures for non-profit institutions that serve households, household consumption expenditures, and gross fixed capital formation.

Meanwhile, growth in the business sector was driven by growth in health services, other services, and the manufacturing industry.

She explained that Jakarta's economic recovery would continue after the COVID-19 pandemic. People's mobility and economic activities also continued even though PPKM was implemented.

"Thank God, Jakarta has entered PPKM Level 1. It will help expand economic activities," she said.

She uttered that the Central Government planned to move the state capital to North Penajam Paser in East Kalimantan. The President's directive at the Plenary Session in August 2019 stated that the economic activity had generally been concentrated in Jakarta and Java.

The Java island became very dense and created inequality with islands outside Java. The relocation of the state capital was considered to have an impact on Jakarta's economy. At that time, Jakarta remained an economic and business city on a global scale.

"We must address and support this directive together. Even though the capital city will be relocated, Jakarta will continue to give support in business and economy," she asserted.

The ratification of Law No. 3/2022 on the State Capital, she assessed, provided an opportunity to redefine the position, function, and role of Jakarta in the future.

As an economic and business center that has historical value in the struggle of the Indonesian nation, Jakarta showed its strategic role as the main support for national economic development.

Although Jakarta was no longer the capital city of Indonesia in the future, the city would still act as a center of trade, financial services, investment, and services. Including the center of national business activities on a regional and global scale supported by a digital and sustainable ecosystem.

"Jakarta's vision in the future is to create a business city and national economic center on a regional and global scale that is also sustainable, cultured, and upholds justice and welfare," she stated.

She assessed that Jakarta had made many transformations and great achievements. But it was considered not enough. Therefore, in the future, Jakarta is visioned to be a livable city that is comfortable to live and work, as well as superior and highly competitive in line with global cities.

"I hope that #JakartakeDepan webinar can be a forum for discussion to exchange ideas, share knowledge, and innovative ideas," she closed.