Friday, October 5th, 2018 - ACN Newswire Pte Ltd

Surabaya, East Java, Indonesia, Oct 5, 2018 - (ACN Newswire) - Coordinating Minister for Economic Affairs of Republic of Indonesia Darmin Nasution conveyed that the consolidation and the contribution of state-owned enterprises (SOEs) are getting better towards national development overtime. This was said when he officially opened the Indonesia Business and Development (IBD) Expo 2018 in Grand City Surabaya, East Java, Indonesia, Wednesday.

"Not to mention that the sectoral holding initiative of a number of SOEs which will eventually will strengthen the competitiveness of SOEs on the international scene," stated Nasution in his opening remarks.

The SOE's consolidation endeavor tracks back to when Indonesia had just been through the reform era in 1998. Around 100 SOEs operating under the Minister for Empowerment of SOEs (previous name of Ministry of SOEs) led by Tanri Abeng. 

Nasution continued, fast-forwarding to 2017, in the midst of US-China trade war, SOEs are considered the foremost parties to repress the devastating risk to Indonesia's economy. Keeping foreign investment coming to Indonesia and increasing the export volume are deemed to be the most effective way to counter the possible, negative impact of the trade war to Indonesia.

"Since the ministry was established in 1998, it was really meant to materialize the export-oriented economy," he said.

Nasution added, IBDExpo is the comprehensive platform not to only display the enourmous progress made by the SOEs in shoring up the country's economy and promoting the national growth, but also for SOEs to directly interact with the society.

"The event plays pivotal role in delivering messages and introduce the role of SOEs as the agent of development," said Darmin.

Beneath the theme of "SOEs Never Stops Building The Country", this year's event is again organized by the National Publishing and News Corporation (NPNC), a consortium of four media-focused SOEs consisting of Antara News Agency, Balai Pustaka, and National Publishing of Indonesia (PNRI).

Chairman of IBDExpo 2018 Achmad Fachrodji added, after being held two years in a row in Jakarta, this year's IBDExpo has now come to Surabaya as its next destination. The city is considered representative and the right choice to manifest President Joko Widodo's nawacita - to develop the nation from the rural area.

"Surabaya not only represents the east and the center territory of Indonesia and but also not too far away from the SOEs' manufacture facilities which are mostly located in Java island," said Fachrodji. 

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Indonesian Ministry of State Owned Enterprises

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