Call Thailand Guaranteed Not To Be A Developed Country, Former Trade Minister: I Don't Want To Happen In Indonesia

Former Trade Minister M Luthfi (Photo: Antara)

JAKARTA - Head of BKPM 2005-2009 and Minister of Trade of Indonesia 2020-2022 Muhammad Luthfi said Indonesia needed tothanize its competitive attitude by continuing to maintain the downstream of minerals that Indonesia had been doing so far.

This is intended so that Indonesia does not miss its golden opportunity to get out of the middle income trap in 2038-2040.

"So we have to maintain Indonesia's competitiveness. So that Indonesia can become an industrialist country because of industrialization, Indonesia can be the key to getting out of the middle income trap," he said in a talkshow Outspoken about the National Car D Polemic LFP VS Nickel, Monday 29 January.

According to him, if Indonesia does not carry out downstreaming, it will have the same fate as Thailand, which has missed its opportunity in 2010.

Luthfi said Thailand would not become a high-income developed country because its demographic bonus had passed.

Previously in 2010 there was a military operation against pro-Thaksin protesters in 2010 that killed dozens of people. Thaksin Shinawatra is a former Thai Prime Minister.

"If we don't industrialize or downstream, we are late and don't carry this out today, then we can't get out of the middle income trap in 2038-2040. Thailand is guaranteed not to become a high-income developed country. Guaranteed! I don't want this to happen with Indonesia in 2038," explained Luthfi.

Apart from Tahiland, another country that has also missed its golden period is Venezuela, which has produced 4 million barrels of oil per day but is in conflict with Colombia.

"Venezuela produces 4 million barrels of oil. Come on. It's finished. Guarantee it won't be a developed country," continued Luthfi

For this reason, he appealed to the public to look for leaders who understand industrialization and downstreaming so that it is in accordance with the current route.

"Don't pass. Wrongly looking for leaders do not understand industrialization, do not understand downstreaming, guarantee that the quota will not go through the middle income trap. It's still time. Find the right leader," concluded Luthfi.