Home / Knowledge / News / Textiles / Jakarta eyes 0.4% growth in textile-chemical-pharma sector

Jakarta eyes 0.4% growth in textile-chemical-pharma sector

23
Sep '20
Pic: Shutterstock
Pic: Shutterstock
Indonesia has targeted 0.4 per cent growth in the chemical, pharmaceutical and textile industries this year. Its growth target for those industries in 2024 is 5.3 per cent. The industry ministry aims to reach $34.14 billion in exports from these industries this year, with realisation of investment at Rp84.65 trillion and absorption of 7.37 million workers.

"Recently, we have synchronized the industry's performance target set for 2020 with the real on-field conditions amid the COVID-19 pandemic," according to the ministry's director general of chemical, pharmaceutical and textile industry Muhammad Khayam,

In the second quarter of the year, the industry's contribution had reached 4.5 per cent, backed by positive growth of the chemical, pharmaceutical, and traditional medicine sectors at 8.65 per cent, when the economy contracted by 5.32 per cent, according to a news agency report.

Khayam said that in the second quarter of 2020, the industry had contributed $14.59 billion to the total exports, with investment realisation touching Rp32.39 trillion comprising Rp20.06 trillion of foreign investment and Rp12.33 trillion of domestic investment.

To achieve the target, the ministry will follow five strategic policies of human resource development in industry: development of facilities, industry empowerment, fiscal and non-fiscal facilities, and bureaucratic reform, Khayam added.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: UNCTAD

Textiles | On 22nd Oct 2020

Trade rebounds marginally in Q3, stays negative: UNCTAD

The United Nations Conference on Trade and Trade and Development...

Pic: Shutterstock

Apparel/Garments | On 22nd Oct 2020

APAC garment units suffer as COVID hits supply chain: ILO

The COVID-19 crisis has badly hit the garment sector in the...

Pic: Shutterstock

Textiles | On 22nd Oct 2020

RCEP pact likely to be signed at 4th RCEP Summit in Nov

The Regional Comprehensive Economic Partnership (RCEP) is likely to...

Interviews View All

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Paolo Crespi,

Paolo Crespi

Japan's Epson, a leader in digital textile printing, Italy's For.Tex, a...

Henk-Jan Rohaan,

Henk-Jan Rohaan

The custom-built machineries of Brugman Holland are known for reliability, ...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search