economy

Kadin Suggests Solutions To The Government For Sritex's Rescue

The Chairman of the Indonesian Chamber of Commerce and Industry (Kadin), Anindya Novyan Bakrie, has expressed his support for President Prabowo Subianto's plan to rescue PT Sri Rejeki Isman Tbk (Sritex). He believes that saving Sritex could serve as a key step in untangling the complexities of the national manufacturing industry, particularly in the textile and textile products (TPT) sector, to prevent similar issues from arising in the future.

"This is a crucial moment to enhance the governance of our industry and national trade. The overarching goal is to protect and maintain the stability of the national economy, ensuring that economic growth truly benefits the welfare and prosperity of the Indonesian people," Anindya Bakrie stated in an official announcement, as reported on Sunday (November 3, 2024).

Anindya is confident that the government will make wise decisions based on existing laws rather than resorting to direct intervention. He has conducted thorough research and engaged in extensive communication with various stakeholders, including the Indonesian Textile Association (API).

"Direct intervention could lead to chaos in the business world and create a moral hazard that triggers negative reactions from other industry players," he noted. To ensure that the rescue of Sritex brings benefits to the wider community, Anindya emphasized the importance of adhering to three key principles.

First, the interests of the people must be prioritized by adhering to the existing laws. Second, it is essential to reform regulations that hinder the textile and garment industry in line with global dynamics, ensuring that this sector continues to positively impact the national economy. Third, stakeholders in the textile and trade industry, including the government, entrepreneurs, and workers, should foster a spirit of collaboration to revitalize the national textile and garment industry.

These three middle-ground approaches should serve as a foundation for all parties to find the best solutions. Anindya stated that Kadin Indonesia supports government efforts to prevent the collapse of large companies, as this would lead to significant job losses for many people. "The interests of the national economy and the welfare of the people must be protected. We also urge the business world to prioritize these concerns over mere profit," he emphasized.

Furthermore, Anindya is committed to taking action in four key areas. First, he will provide support in regulatory matters, trade, finance, and other necessary fields to help textile industry players enhance their global competitiveness and continue to grow.

Tag: Anindya Novyan Bakrie Indonesian Textile Association Kadin Sritex