President Jokowi’s Success in Boosting the Economy Through the Job Creation Law Will Be Continued by Prabowo-Gibran
By: Fitri Lubis )*
Since taking office, the President of the Republic of Indonesia for the 2014-2024 period, Joko Widodo (Jokowi) has been committed to driving Indonesia’s economic growth through various innovative policies. One of the significant steps taken is the implementation of the Job Creation Law. This law is the main driver in creating a better investment climate, increasing competitiveness, and optimizing the potential of the national economy. President Jokowi’s successful achievements in building this economy are also expected to be continued by the next government, Prabowo-Gibran.The Job Creation Law was passed in 2020 and is part of the government’s efforts to simplify regulations that have been considered to hinder business development. One of the most important aspects of this law is the reduction of convoluted bureaucracy. With the simplification of business permits and the elimination of many unnecessary regulations, it is hoped that business actors can start and run businesses more quickly and easily, which is very important, especially for small and medium entrepreneurs who are often hampered by the complexity of existing procedures.Finance Minister Sri Mulyani Indrawati said that good budget management reflects the quality of the economy and the dignity of a nation is very important to understand. The budget is not just a number on paper; it is a reflection of the values, priorities, and character of a country. In the Indonesian context, this statement highlights the importance of transparency, accountability, and efficiency in public financial management.Effective budget management shows that the government is able to plan, implement, and evaluate programs that benefit the community. When the budget is well managed, it not only improves the quality of public services, but also increases public trust in the government. People tend to be more supportive of government policies that they see as bringing direct benefits to their daily lives, such as education, health, and infrastructure.Innovation in the national economy is also reflected in the emergence of various new sectors that are expected to be the driving force of growth. One of the sectors that benefits in the era of information technology is the digital economy. This sector is growing rapidly and is one of the mainstays of Indonesia’s economic growth. The Job Creation Law provides a strong legal basis for the development of digital-based businesses. With the increasing number of startups emerging, Indonesia has the potential to become a center of technological innovation in Southeast Asia.Macroeconomics and Financial Market Researcher at the Institute for Economic and Community Research, Faculty of Economics and Business, University of Indonesia (LPEM FEB UI), Teuku Riefky said that the national economic growth that has been relatively good in the last decade deserves attention. With an average Gross Domestic Product (GDP) growth of around 5 percent per year during President Joko Widodo’s administration, Indonesia has shown positive performance when compared to many peer countries.Looking at these figures, Indonesia’s economic growth of between 4.88 and 5.17 percent for several consecutive years shows important stability for the national economy. In a global context that is often marked by economic uncertainty, this consistent growth is an indicator that Indonesia’s economic foundation is quite strong. It also shows that policy steps taken by the government, such as the Job Creation Law and infrastructure investment, are starting to produce the expected results.Deputy for Investment Cooperation of the Ministry of Investment/BKPM, Riyatno said that the stability of the Indonesian economy reflected in its attractiveness as a foreign investment destination is very relevant and shows important achievements. Indonesia’s ranking of 18th in global investment and second in Southeast Asia after Singapore is clear evidence that this country is increasingly being considered in the international arena.Economic stability is the main factor that investors consider before making a decision to invest. When a country is able to maintain political, economic, and social stability, investors will feel more confident to invest. Indonesia, with its abundant natural resources, large market, and relatively young workforce, offers a lot of potential for investors, making Indonesia one of the attractive destinations in the Southeast Asia region.However, the implementation of the Job Creation Law is not without challenges. Some people think that this law makes the process too easy for large companies, while small and medium business actors still face various difficulties. Therefore, it is important for the government to ensure that existing regulations do not only benefit a few people, but can also be felt by all levels of society.The Job Creation Law is President Jokowi’s strategic step to encourage national economic innovation. By simplifying regulations, increasing competitiveness, and developing new sectors, Indonesia’s economic growth is expected to be rapid. Despite the challenges, the government’s commitment to creating a good investment climate and improving the quality of human resources is the key to achieving this goal. With all the policies and steps taken, it is hoped that Indonesia will be able to compete in the global arena and become one of the countries with a strong economy in Asia. The successful implementation of the Job Creation Law will be an important milestone for the future of the Indonesian economy, which is not only focused on growth, but also on equalizing welfare for all people.)* Public Finance Consultant – Community Economic Center (SEM)
