According to Vice President Ma’ruf Amin, the Indonesian government’s success in handling the COVID-19 pandemic is due to their courage in taking unusual steps. At the 14th Asia Pacific Tax Forum, Amin outlined these steps, including economic policy and legislation reforms such as the Job Creation Law, Law on Harmonization of Tax Regulations, and the Law on Development and Strengthening of the Financial Sector. Notably, Indonesia is estimated to be one of the few countries still capable of growing in 2023 and the International Monetary Fund projects a 5% year-on-year growth for the country. Building on this momentum, the government aims to support trade, investment, productivity, and economic resilience. Indonesia continues to increase its strategic role in various regional, multilateral, and international forums amidst the pandemic and various disruptions. As a Muslim-majority country with diverse resources, Indonesia has the potential to become a leading country in the development of Islamic economics and finance worldwide. The halal value chain, including agriculture, halal food, Muslim fashion, and Muslim-friendly tourism, supports over 25% of the national economy and is estimated to grow 4.5-5.3% this year. Furthermore, State Sharia Securities have supported financing for over 3,500 projects since they were issued in 2013. With the immense potential and contributions made, Indonesia’s Islamic economy and finance can be further developed.
