President Jokowi's Orders To SOEs: If We Want To Quickly Adapt, Partner With Global Companies

Indonesian President Joko Widodo while giving a briefing to the Managing Directors of SOEs in NTT (Photo: Presidential Secretariat Press Bureau/Laily Rachev via Antara)

JAKARTA - Indonesian President Joko Widodo (Jokowi) asked State-Owned Enterprises (BUMN) to seek global corporate partners to develop new business models, in line with the rapid development of technology.

"If you want to be fast, we adapt, the fastest way is to partner, which global company is the best, invite it," President Jokowi said to the President Director of SOEs, as shown on the official Presidential Secretariat YouTube channel, reported by Antara, Saturday, October 16. , monitored in Jakarta. The President believes that with the potential for Indonesia's economic growth in the next few decades, many global companies are interested in partnering with Indonesian SOEs. In the next 10-20 years, the President said, Indonesia will enter the ranks of the world's major economies.

“Which global company is the best? Invite. Definitely want with us. We have assessed the prospects for the next 10-20 years, we will become the world's top four economies. Who wouldn't? I want everything," he said.

The President wants SOEs to be able to compete in the global industry. Therefore, the SOE business model must continue to be developed and adapt to the rapid development of technology. SOEs must also respond to the industrial revolution 4.0, the era of technological disruption and learn new business models from the economic situation in the midst of the COVID-19 pandemic.

According to the President, to be able to survive in the era of the industrial revolution 4.0, a company needs to prepare human resources and a business ecosystem so that they can adapt to these technological developments.

“What is called business transformation, which is called technology adaptation has become a necessity and cannot be helped. We only count, we are racing," said the President.

In addition, the President also reminded SOEs to always pay attention to the economic value, efficiency value, and take into account business indicators such as the internal rate of return of the programs being carried out.

"Please count, because whatever this BUMN is a state company, its social impact is also calculated. And most importantly, continue to review the economy. Counting, calculating, so we can know what future growth will be like," said President Jokowi.