Oct. 26, 2015 - President Jokowi Delivers Speech at Gala Hosted by USINDO, US Chamber, and USABC

Summary

In this speech, the speaker expresses gratitude and excitement to address the audience, many of whom have been long-time investors in Indonesia. They announce Indonesia’s intention to rejoin the Trans-Pacific Partnership (TPP), marking a significant development. The speaker emphasizes the need for economic reforms, simplifying business regulations, and removing excessive barriers that hinder growth. Drawing from personal experience as a former businessman, the speaker stresses the importance of efficiency and fairness in business. They conclude by reassuring the audience that Indonesia is committed to supporting and working with them through ongoing reforms.

Takeaways

• 😀 The speaker acknowledges the long-standing investments and relationships between Indonesia and its international partners.
• 😀 Indonesia intends to join the Trans-Pacific Partnership (TPP), marking a significant step in its economic integration with global markets.
• 😀 The speaker emphasizes the need for economic reform, particularly freeing up the private sector by eliminating inefficient regulations and protectionism.
• 😀 The speaker highlights their own experience as a businessman and how this informs their approach to simplifying business processes and regulations.
• 😀 The speaker encourages patience in the face of slow progress, stating that economic reform is a gradual process that takes time.
• 😀 The speaker references Steve Jobs' ability to simplify complex systems, comparing it to Indonesia's regulatory reform efforts.
• 😀 There is an acknowledgment that while reforms may not be perfect immediately, Indonesia will continue to improve and evolve over time.
• 😀 A quote from a wise individual is shared, encouraging prudence when others are greedy and taking opportunities when others are fearful.
• 😀 The speaker assures the audience that the Indonesian government is committed to supporting both domestic and foreign businesses.
• 😀 The speaker expresses gratitude for the support and trust shown by the audience and reassures them of Indonesia's ongoing efforts to improve the business climate.
• 😀 The speech closes with a commitment to remain present and available for international partners, reinforcing Indonesia's willingness to collaborate and grow.

Q & A

What is the significance of the speaker's meeting with President Obama?

The meeting with President Obama is significant because it marks a major diplomatic and economic development, with the announcement that Indonesia intends to rejoin the Trans-Pacific Partnership (TPP), a key international trade agreement.

What does the speaker mean by 'freeing up the private sector'?

By 'freeing up the private sector', the speaker refers to the removal of restrictive policies, excessive bureaucracy, and protectionist measures that hinder both domestic and foreign businesses from operating efficiently in Indonesia.

Why does the speaker emphasize the importance of simplifying regulations?

The speaker emphasizes simplifying regulations to make processes more efficient and user-friendly, noting that complex systems can slow down economic progress and create unnecessary burdens for businesses.

How does the speaker relate Steve Jobs to economic reforms in Indonesia?

The speaker compares Steve Jobs' ability to simplify complex technology into user-friendly products with Indonesia's goal of simplifying complicated regulatory frameworks. The analogy highlights the importance of making systems efficient and easy to use.

What does the speaker mean by the phrase 'Economic reform is a process'?

The speaker acknowledges that economic reform is not a quick fix; it is a gradual process that requires time, patience, and continuous efforts to improve and refine policies until they are fully effective.

What is the meaning behind the quote 'Be fearful when others are greedy, and be greedy when others are fearful'?

The quote suggests that in times of economic uncertainty or crisis, one should be cautious when others are overly ambitious or risk-taking, while being opportunistic when others are hesitant or fearful, which can be advantageous for making strategic business decisions.

Why does the speaker highlight his past experience as a businessman?

The speaker highlights his 22 years of experience in business to emphasize his practical understanding of the challenges businesses face, particularly in dealing with bureaucratic inefficiencies and the need for simpler, more effective regulations.

What is the significance of Indonesia's decision to rejoin the TPP?

Rejoining the TPP is a significant step for Indonesia in strengthening its trade relations with other member countries, enhancing economic cooperation, and participating in global trade agreements that foster growth and stability.

What is the intended outcome of the speaker's regulatory reforms?

The intended outcome is to create a business environment in Indonesia that is more conducive to growth and investment by eliminating red tape, simplifying processes, and removing protectionist measures that have historically hindered businesses.

What message does the speaker convey about Indonesia's commitment to international business relations?

The speaker assures the audience that Indonesia is committed to strengthening international business relations, emphasizing that despite challenges, the country is determined to stand by its international partners and provide a more favorable environment for foreign investment.