Indonesian Parliament Calls For Lending To Protect Textile And Garment Industry
Indonesian Parliament
Sixth the committee urges the government to immediately protect the 5 industrial sectors through lending facilities so as to avoid being affected by China.
ASEAN
FTA threats.
Sixth member of the committee, Mr. Peng said, according to Parliament
Competitive power
The results of the work committee analysis indicated that the 5 areas threatened include the field of electronic products, furniture, metal and metal products, machinery, textile, clothing and textiles.
He urged the Ministry of industry to improve co-ordination and loan facilities in protecting Indonesia's industries threatened by the FTA.
He believes that the central bank's failure to cut interest rates has disappointed the industry.
He points out that the rate of business capital in Indonesia is higher than that in other countries, such as China, which has just raised interest rates from 5.31% to 5.56%, and the interest rate is far lower than the Indonesian loan annual interest rate of 9% to 16%.
On the other hand, he pointed out that Singapore, Malaysia, Hongkong and South Korea were flooded with Indonesian goods, and Indonesia's small and medium-sized enterprises were unable to stand up for fear of accelerating the collapse.
He said that small and medium-sized enterprises in Indonesia could not compete with foreign capital in terms of capital, management, human resources, raw materials, production or market operations, but the government remained indifferent during this period.
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