EconInsight on ‘Industrial Policy for Indonesia’ with Dr. Arianto Patunru

On Friday, July 19th, 2024, the Faculty of Economics and Business (FEB) at the Universitas Islam Internasional Indonesia (UIII) hosted an insightful event titled "Industrial Policy for Indonesia: Risks and Opportunities." The event featured Arianto Patunru, PhD, a distinguished scholar from the Crawford School of Public Policy at the Australian National University.

During his presentation, Dr. Patunru highlighted several key strategies pivotal in other nations' economic advancements, particularly focusing on South Korea's remarkable journey in eradicating poverty through rapid economic growth. 

He detailed historical push factors, the industrialization policies under Park Chung Hee in the mid-1960s, the broad-based state support, strategic steps in the shipbuilding industry, and direct government investment as crucial elements that propelled South Korea's economic success. 

Additionally, Dr. Patunru noted that in recent decades, Indonesia's economic and manufacturing growth has remained relatively stagnant compared to that of its ASEAN neighbors. "Indonesia's participation in value chains is lower compared to Malaysia, Vietnam, the Philippines, and Thailand," Patunru stated, suggesting that there is still room for improvements in industrial policy for Indonesia. 

The EconInsight event is expected to serve as a platform for sharing knowledge about the current economic situation and conditions in Indonesia. At UIII, workshops like this will continue to be offered to the academic community and the broader public to facilitate learning and future discussions.

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