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Wrong Gita Wirjawan?

Gita Irawan Wirjawan

Head

Indonesia Investment Coordinating Board

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I agree to the Terms of Service and Privacy Policy. I understand that I will receive a subscription to ZoomInfo Community Edition at no charge in exchange for downloading and installing the ZoomInfo Contact Contributor utility which, among other features, involves sharing my business contacts as well as headers and signature blocks from emails that I receive.

Indonesia Investment Coordinating Board

Background Information

Employment History

Minister of Trade

Strategic Review


Axiata Limited


Senior Adviser

South East Asia for JP Morgan


President Director

J.P. Morgan & Co.


Owner

Omega Pacific Production


Senior Vice President for International Business Development

ST Telemedia


Investment Banker, Indonesian Trade Minister, Head of the Investment Coordinating Board and Founder

Ancora companies


Chairman

Indonesia


Senior Vice President, International Business Development

Singapore Technologies Telemedia Pte Ltd


Senior Banker

Goldman , Sachs & Co.


Independent Non-Executive Director

TM International Berhad


Senior Banker

Citibank


Affiliations

G20

Member


Hyflux Ltd

Board Member


Institute for Societal Leadership at Singapore Management

Member of the Advisory Board


Harvard University

Mason Fellow


Education

BA

Business Administration

University of Texas


Master

Business Administration

Baylor University


Master

Public Administration

Kennedy School of Government at Harvard University


Web References(100 Total References)


Indonesia economy business analysis

www.indonesia-digest.net [cached]

ndonesia will be able to live up to its potential as the biggest player in Southeast Asia's economy should the nation be willing to undertake major changes and take risks, Trade Minister Gita Wirjawan says.
The archipelago country, which constitutes 45 percent of the economy of the 10-member Association of Southeast Asian Nations, has the potential to be the region's leading player as long as it comes up with mid- and long-term plans, including reducing imports of cheap goods and becoming an efficient exporter, Gita said during a visit to BeritaSatu Media Holdings' office in South Jakarta on Tuesday. "For the past three to four decades, our economy was, unfortunately, too demand-centric. Sometimes demand is so overwhelmingly large, but if we are not ready to welcome the opportunity, we will lose," he said. "The key is to link the supply side and the demand side." With a population of almost 250 million people, he said, Indonesia should be ready to embrace the free market. In 2015 the Asean Economic Community will further open trade among member countries, giving Indonesia the chance to ship more to its neighbors. Indonesia importing more than it exports created a trade deficit for much of the past six months, but the nation posted a $31 million trade surplus in March. Indonesia should promote itself to the rest of the world, Gita said. "You've got to make sure that you project Indonesia as a nation and a society that bundles pluralism, welfare with equity and democracy," Gita said. "And democracy is irreversible. It's also good not to oversell your country." Boosting local demand Gita said one major misconception that has stopped Indonesia from balancing supply and demand in production was the expectation among people that they should buy cheap imported products rather than goods produced locally. "It's not that I don't favor pro-people policy, but we should not hold on to the paradigm that cheap and fulfilling is better. It's wrong, if we buy cheap products from other countries just to be able to meet the demand, we will only make those countries richer," he said. "If we don't have the paradigm to be the most effective exporter, when all windows and doors are open with Asean Free Trade Area our supply side will be dominated by other countries," he said, referring to the bloc's agreement to support local manufacturing. Gita said Indonesia should not be too focused on achieving self-sufficiency. Instead, he said, Indonesia should aim higher by making the country the most efficient exporter. Most of the country's major exports are in commodity-related goods such as palm oil, rubber, coal and iron ore, but it lacks the capacity to refine those into value-added products. "Right now our competitiveness is not enough to compete fiercely in Asean for the next to two to three years, but if we start from now, compared to aging Singapore and Malaysia, we will win," he said. The median age in Indonesia will rise to 35 in 2030 from 28 in 2010, according to UN statistics. By comparison, the average age in Malaysia will rise to 37 from 26, and in Singapore to 47 from 38. In any case, Indonesia should immediately apply "a major game-change," Gita said. Government should encourage entrepreneurs to take risk, to invest and to develop technology that paves the way for Indonesia's development, he added. South Korea, for instance, was able to dominate the global market and became the major player with its technology because its leaders have anticipated the future with "the carrot-and-stick method," he said, referring to a policy of reward and punishment to stoke change. 'Tax allowance? Protection? Done.' "To be able to make a connection between demand and supply we should give rewards for the winners and amputate the losers," Gita said, adding that the government should be able to provide benefits for businesspeople who are willing to take risks for future investment. "The government should be able to encourage businesspeople to come up with industry that will be able to pave ways for the nation's better future," he said. Gita said that, despite the shortcomings, he was optimistic that Indonesia would adjust to a freer market, as long as it finds a leader who circumvents conventional wisdom. Education is key, he said. But that faces major hurdles. The government is instituting changes to the school curriculum, emphasizing religious studies, nationalism and Indonesian language ahead of English language and science, raising concerns that Indonesians will become less globally competitive. "Unfortunately, the picture right now is very daunting. In Massachusetts Institute of Technology, there are more than 2,000 students from mainland China, and only 11 from Indonesia, how are we going to compete? Gita said. In 2013, the government has allocated Rp 287 trillion ($30 billion) for education, 20 percent of the state budget. "With that much money allocated for the education sector, Indonesia should have no problem to send more students to college both locally and abroad, and we will have a lot of visionary leaders in the future," said Gita, himself a graduate of Harvard University in the United States. Indonesian Trade Minister Gita Wirjawan recently told reporters the country would be in a better fiscal position next year, as today's imports drive more manufacturing activity-and more exports-in the future.


Indonesia arms procurement, military business, development

www.indonesia-digest.net [cached]

Gita Wirjawan is the man in charge of attracting foreign investment to Indonesia.
The head of the Indonesia Investment Coordinating Board, Gita Wirjawan, said that such change, as well as the efforts against another Indonesian scourge, corruption, meant the path would soon be cleared for greater investment in infrastructure and industry. "We're not like China," he said. "We don't make decisions like China does. Indonesia is "a democracy, a newly working democracy that's trying to understand how to put the different pieces of the puzzle together." Mr. Wirjawan pointed to the latest investment data to back his assertion that foreign investment was flowing beyond Indonesia's primary industries like mining and agriculture: $13.2 billion of the $16.2 billion in foreign investment last year went to industries like transportation, food and manufacturing. "I think there's going to be more and more money being put into manufacturing and infrastructure," he said. "That's good. That's what I call smart capital." Indonesia, he said, also finds itself in a demographic "sweet spot," with about 60 percent of the population 39 years old or younger, an opportunity that will prevail for the next 15 years.


Indonesia Economy, Development

www.indonesia-digest.net [cached]

The head of the Indonesia Investment Coordinating Board, Gita Wirjawan, said that such change, as well as the efforts against another Indonesian scourge, corruption, meant the path would soon be cleared for greater investment in infrastructure and industry.
"We're not like China," he said. "We don't make decisions like China does. Indonesia is "a democracy, a newly working democracy that's trying to understand how to put the different pieces of the puzzle together." Mr. Wirjawan pointed to the latest investment data to back his assertion that foreign investment was flowing beyond Indonesia's primary industries like mining and agriculture: $13.2 billion of the $16.2 billion in foreign investment last year went to industries like transportation, food and manufacturing. "I think there's going to be more and more money being put into manufacturing and infrastructure," he said. "That's good. That's what I call smart capital." Indonesia, he said, also finds itself in a demographic "sweet spot," with about 60 percent of the population 39 years old or younger, an opportunity that will prevail for the next 15 years.


Strategic Review

www.sr-indonesia.com [cached]

Panelists: Nusron Wahid, Jalaludin Rakhmat, Father Benny Susetyo, Yudi Latief - Moderated by Ima Abdulrahim with opening remarks by Gita Wirjawan.


Strategic Review

www.sr-indonesia.com [cached]

In his remarks, Gita called Studwell "not only a person who understands Indonesia, but a person who has written insights that will be useful to Indonesia as a country and a nation, but also Indonesia as a member of the region."
"It's probably easy to be pessimistic about the future of Indonesia, knowing how Indonesia compares with more successful countries," Gita said.


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