KADIN: Alert For Global Recession Risk, Business Actors Will Be More Alert For Expansion In 2023

Deputy Chairperson of the Maritime, Investment and Foreign Affairs Chamber of Commerce and Industry, Shinta W. Kamdani. (Photo: Doc. Antara)

JAKARTA - Deputy Chairperson of the Maritime, Investment and Foreign Affairs Chamber of Commerce and Industry (KADIN) Shinta Kamdani said that business actors would be more vigilant in expanding or developing their business in 2023 to be aware of the risk of a global recession.

“Actually, we are optimistic but still cautious. For expansion and others, we have to look at the demand, the market, and others. What is important now is that the cost company does not affect efficiency," Shinta said in a joint discussion with BKPM, Bappenas, and KADIN in Jakarta, as quoted from Antara, Wednesday 26 October.

Meanwhile, investment in economic sectors that have implemented the principles of Sustainable Development Goals (SDGs) is predicted to continue to grow in the future because Indonesia still has untapped potential.

"Indonesia's economy is projected to be better than other countries, including in certain areas such as electric vehicles, it may continue to run," she said.

Investment in the National Capital City (IKN) of Nusantara will also continue because its development applies the smart city concept in accordance with the SDGs principles.

"As long as we can justify demand, the market, and anyone who will move, I think investors will want to invest, especially if we focus on sustainable investments," she said.

Meanwhile, in the future, the labor-intensive sector is expected to carry out many layoffs as the start-up sector.

“So it is difficult to maintain labor-intensive employees. They even try not to lay off workers, but again this is difficult because the demand and the market have decreased significantly, so they are doing a lot of efficiency,” she said.