Minister of Finance (Menkeu) Sri Mulyani said the government was committed to transforming to become a country that had a higher-income economy in a more inclusive and just way.
One of them is by developing the manufacturing sector.
"Manufacturing is the transformation of the Indonesian economy," he said in a written statement quoted on Friday, December 16.
According to the Minister of Finance, the development of the manufacturing sector will provide benefits to create formal jobs with higher quality and better salaries for the workforce.
Sri Mulyani explained that the Indonesian economy is currently still dominantly controlled by the informal sector, especially the trade sector, making it very difficult to improve people's welfare by relying solely on the trade sector which tends to be informal.
"Not only added value, but it can be healthier and better in this case for the workforce, but also for capital," he said.
The state treasurer added that one of the government's efforts to develop the manufacturing industry is to downstream natural resources (SDA) and adopt import substitution.
This condition is reinforced by Indonesia's trade balance which experienced a surplus for 30 consecutive months of up to 44 billion US dollars supported by exports of raw natural natural resources due to commodity price explosions at the global level.
"This trade surplus is supported because some of the raw materials have now been processed and created a more sustainable and higher value of our trade," closed the Minister of Finance Sri Mulyani.
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