TIME.CO, Jakarta – Chairman of the Board of Commissioners of the Financial Services Authority o Okay Mahendra Siregar said so economy in Indonesia must be strengthened. This is a priority for the future of the Financial System Stability Committee (KSSK), which is composed of the Ministry of Finance, Bank Indonesia, OJK and Deposit Insurance Corporation (LPS).
“Our priority for the future is to strengthen the economy, so there is no waiting time for investment in Indonesia. It is about investment, investment, investment. We have to be ready and we will encourage it,” he said on Monday, January 2, 2023 in a press conference broadcast live on the Indonesia Stock Exchange’s YouTube account.
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For this reason, Mahendra said the government needs to improve integrity, accountability and credibility. Because then Indonesia will be able to fill the empty cup, where the population of investors on the Indonesia Stock Exchange is only 10.3 million or only 4% of the national population.
“It’s still very large, even though it accounts for 50% of market capitalization to national GDP, it still lags far behind other ASEAN countries’ 100%,” said Mahendra.
Indonesia, he said, should be grateful amid the turmoil and uncertainty in Europe and many countries globally. The performance of the Indonesian economy and also its reflection on the performance of the capital market in 2022 actually persists and tends to show very positive trends.
“Also better than ASEAN and Asia in general. This is reflected in the performance of JCI which finished up 4% over last year,” said Mahendra.
According to him, trading activity on the exchange in 2022 experienced a significant increase, and the daily trading frequency reached 1.31 million times, the largest in ASEAN.
In addition, the highest market capitalization reached IDR 9.5 trillion or US$600 billion, or 50% of Indonesia’s GDP, and there were also 59 new stock listings or IPOs in 2022.
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