FULL TEXT: Jokowi’s speech at the Forbes Global CEO conference

JAKARTA, Indonesia — Indonesian President Joko “Jokowi” Widodo spoke in front of a crowd of Chief Executive Officers at the 16th Annual Forbes Global CEO Conference at the Shangrila Hotel in Jakarta on Tuesday, November 29. Below is the full transcript of his speech.

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First of all, I want to say: I’m also a CEO. Not only I’m the CEO for the Republic of Indonesia, but for more than 20 years I was also the CEO of my own furniture manufacturing and export business. Therefore, I’m happy and honored to attend this forum for the first time also as the CEO.

When I took office 2 years ago as the incoming CEO for Republic of Indonesia, I knew that we have to restructure our economy asap. that we have to reform our bureaucracy ASAP, and then we have to reform and upgrade our society ASAP. The world has changed and we have failed to change with it, unless we took action quickly to catch up. It was clear to me that Indonesia would fall behind. Within 1 month I reduced fuel subsidies by more than 80%.

We were then able to improve education, infrastructure, healthcare. We launch the biggest infrastructure government program, 1,000 km of toll road, 3,258 km of railways, 15 new airports and 10 airport expansions. 24 seaports and seaport expansions. Then, 14 months ago we launch a major effort to regulate streamline permit and licenses. so far we launch 40 packages of reforms, consisting of creating logistic center, which make the import of values good much more efficient.

And this year we launched an ambitious tax amnesty program. After 5 months we already become the most successful tax amnesty program in the world, with 10 billion dollars – more than 1% of GDP – in penalty payments and capital revaluation.

I understand that in the USA, Mr. Trump is now considering several policies: such as launching major infrastructure program and launching a major tax amnesty to attract some of 2,5 trillion USD of corporate tax overseas.

I have to say: it all sounds fully familiar. In case Mr. Trump needs some advice, we would be happy to share our experience.

We improve our ranking in World Bank, from ranking number 106 to 91. Apparently that is world record. No country do it in 1 single year. But my target is to make that we are in top 40 as soon as possible.

We are now looking ahead to the next phase of our reform and implement plan. Tourism will play a more dominant role in our economy. 

In less than 1 year the number of Chinese tourists to Manado increased from 12,000 per year to 12,000 per month. You all know Bali, our famous paradise. Your life is not complete if you have not been to Bali. But Indonesia has many places: Raja Ampat, Mandalika, Lombok, Komodo Island. if you want to buy properties, go soon before the price go high.

I hope that many more of you will do soon, doing business in Indonesia can have it challenges. We will continue to reform; we will continue to make our climate to be more business friendly.

I intend to be an active participant in your adventure.

– Rappler.com