Government projects automotive industry to back national exports

Jakarta (ANTARA) – The Industry Ministry has projected that the automotive industry will support the national exports by boosting its competitive edge to contribute to the country’s foreign exchange coffers.

“As the president has stated, the government is focusing on reducing imports, increasing exports, and attracting more investment,” Industry Minister Agus Gumiwang Kartasasmita noted in a written statement released on Friday.

The minister made the remarks after accompanying President Joko Widodo (Jokowi) to see off the maiden export of Isuzu Traga in Karawang, West Java.

During the ceremony marking the maiden export of Isuzu Traga to the Philippines, Kartasasmita, highlighted Indonesia’s target to export one million domestically manufactured cars in 2025 and 1.75 million in 2035.

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The export of completely built up (CBU) cars reached 250 thousand in 2018, with a market share of some 80 nations, including five main export destinations: the Philippines, Saudi Arabia, Japan, Mexico, and Vietnam.

“The export of CBU cars is targeted to reach 400 thousand units this year,” he stated.

To this end, the Industry Ministry has continued to encourage the principal to make Indonesia an export-oriented production base, he noted.

To realize the target of exporting 400 thousand units of CBU cars, the Industry Ministry had made efforts in November 2019, including meeting with several leading Japanese automotive manufacturers, he remarked.

As a follow up to the meeting, Toyota Group announced its business expansion plan, with investment totalling Rp23.3 trillion.

“The investment will be realized during the five-year period from 2019 to 2023,” he added.

Related news: Indonesia has become automotive industry investment destination
 

Article source: https://en.antaranews.com/news/138103/government-projects-automotive-industry-to-back-national-exports