REPUBLIKA.CO.ID, JAKARTA -- Indonesia should become an industrial nation to boost its economic growth and become a developed country, Minister of National Planning and Development Bambang Brodjonegoro stated.
"Indonesia will never become a developed country if we do not become an industrial state," Bambang noted at a general lecture at the University of Indonesia in Depok, Friday.
According to Bambang, the best investments for Indonesia are in the manufacturing and services sectors in order to maintain economic stability.
Indonesia should not depend on the commodity sector that has been the economic backbone in the past, as there is volatility in the sector and only benefits foreign investors and large businessmen, Bambang remarked.
For instance, Venezuela, one of the biggest oil-producing nations in the world, was on the brink of bankruptcy due to fall in crude prices, he pointed out.
Since it depends only on a commodity, Guinea in Africa has only US$500 per capita income, while the country has abundant bauxite and gold deposits, Bambang stated.
He affirmed that the government was promoting and developing Indonesia's tourism sector to boost economic growth.
"Tourism has a direct impact on the local economy. It has direct multiplier effects on the people and various other sectors," the minister noted.
Tourism sector is expected to provide wider job opportunities for the locals, such as working as tour guides and souvenir vendors, Bambang affirmed.
Bambang remarked that the growth of 4.8 percent last year was not adequate and should be increased.
"We need higher economic growth by alleviating poverty, narrowing the income gaps, and reducing the unemployment rate," he added.
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