The Ministry of Industry (Kemenperin) is still targeting the growth of the non-oil and gas or manufacturing processing industry to grow positively until the end of 2024 amid contractions in the industrial sector.
Minister of Industry (Menperin) Agus Gumiwang Kartasasmita said his party had proposed a number of regulations that were considered to support industrial growth, such as the Draft Government Regulation (RPP) on Natural Gas for Domestic Needs, revision of import relaxation and transfer of import ports to eastern Indonesia.
"I see that with various challenges and various challenges, the industrial sector is still growing. Challenge is sometimes more difficult from within the country," Agus said at the Ministry of Industry's office, quoted Wednesday, October 23.
Agus assessed that regulations related to other ministries/agencies are often uncertain. In this case, he mentioned related to the Regulation of the Minister of Trade (Permendag) Number 8 of 2024 regarding the relaxation of imports.
According to him, since the relaxation of imports for a number of commodities was implemented, manufacturing PMIs have decreased in the last three months. In fact, the index which includes production variables, orders, and supply of industrial goods survived its expansion over the previous 34 months.
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"I am not surprised because there is no regulation that industry players have been waiting for to be able to foster optimism for them, the regulations are not in us," he said.
The Ministry of Industry targets the manufacturing industry to grow 5.80 percent by the end of this year. Meanwhile, manufacturing growth throughout 2023 reached 4.69 percent or lower than the target set at 4.81 percent.
Referring to data from the Central Statistics Agency (BPS), the growth of the non-oil and gas processing industry towards gross domestic product (GDP) reached 4.63 percent on an annual basis or year on year (yoy) in the second quarter of 2024.
"So with various challenges in the industrial sector, we are still optimistic that it will grow again," said Agus.
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