Coordinating Minister general lecture reveals Global Economic Uncertainty and Omnibus Law

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The Coordinating Minister for Economic Affairs, Dr. (HC) Ir. Airlangga Hartarto, MBA., MMT., IPU. gives a general lecture at Faculty of Economics and Business UNAIR, Wednesday, January 29, 2020. (Photo: Nindita Naisella)

UNAIR NEWS – Facing the uncertain global economic situation between the issue of trade wars and health crisis, the Coordinating Minister for Economic Affairs, Dr. (HC) Ir. Airlangga Hartanto, MBA., MMT., IPU. presented his views to students of Universitas Airlangga (UNAIR) in a general lecture.

The general lecture took place in Fadjar Notonagoro Hall, UNAIR Faculty of Economics and Business, on Wednesday, January 29, 2020. The main theme was “The Future Direction of Indonesia’s Economic Development in Realizing Inclusive and Sustainable Development”.

UNAIR Rector Prof. Dr. Mohammad Nasih, SE., MT, Ak., CMA in his remarks expressed UNAIR’s serious steps to continue involvement in the national economy through the teaching industry.

“We are currently developing a teaching industry in Madura. This is certainly to facilitate and promote innovation of our students. Because after all, universities are the main place for development of innovation and economic development that is well established, “said Prof. Nasih.

Airlangga in his presentation highlighted the uncertainty in the current global economy, where almost every country in the world has an economic growth trend that is below the average global economic growth.

“There are many events that have a significant impact on the global economy. The weakening of the European Union because of Brexit, East Asia is heating up due to Japanese-Korean competition, hyperinflation in Latin America until the latest corona virus which has made the tourism, automotive, and Asian economies weaker, “Airlangga said.

Although these events have a negative effect on the economic growth of many countries, Airlangga has revealed that they have brought positive effects to the Indonesian economy.

In the midst of these uncertainties, Southeast Asia, especially Indonesia, emerged as the most stable region. It happens because of several important points, including a good democratic situation, the birth of Indo-Pacific cooperation, and sustainable multilateral relations between countries.

“As a result, we can see Indonesia’s stable exchange rate at thirteen thousand six hundred, and stable economic growth at around five percent. Even our inflation in recent years reached the lowest figure in the range of three percent, “he said.

But despite these achievements, the government still has a myriad of works that need to be completed. Some of them are low labor absorption, low inclusiveness, increasing innovation, and protection for workers and the UMKM industry.

“Therefore, we present the Omnibus Law and pre-employment cards. The Omnibus Law itself will become Indonesia’s structural reform in the economy and employment. There will be a lot of simplification and ease of investment, business, land acquisition, and employment, “Airlangga said.

Coordinating Minister for Economic Affairs Airlangga Hartarto (on the right) with UNAIR Rector Prof. Moh Nasih. (Photo: Nindita Naisella)

Meanwhile pre-employment cards provide key programs such as training, job placements, and venture capital. There is also B30 which reduced fossil fuel use and diverted to palm oil.

Airlangga then highlighted the magnitude of the skill gap in Indonesia. This makes many high school and vocational high school students not absorbed in the industry. In the future, the government plans to build polytechnics, vocational training, and training institutions that are suitable for industries that are developing in the region.

“Furthermore, we will build connectivity in the economic zones, integration of the north and south regions, and excellent programs in special economic zones such as Malang, Central Java and Madura,” he said.

In the general lecture held in Fadjar Notonagoro Hall, various university and government officials were also present. There were also more than 800 students from various majors participated in the lecture by the Coordinating Minister for Economic Affairs. (*)

Author: Intang Arifia

Editor: Binti Q. Masruroh

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