Jakarta. The global landscape remains marked by uncertainty, with factors like climate change and conflicts further heightening the substantial threats to the world economy.

These remarks were made by President Joko Widodo (Jokowi) during his opening address at the BNI Investor Daily Summit (IDS) 2023, held at the Hutan Kota by Plataran, Senayan, Jakarta on Tuesday.

"The world is becoming increasingly unclear. The challenges we face are not diminishing, but rather, they are mounting," the President said.

President Jokowi emphasized a significant shift in the way climate change is perceived, as what was once considered absurd has now become undeniably real. This change is starkly illustrated by the far-reaching impacts of the super El Nino drought, which has had severe consequences on global rice production.

"Rice production has dwindled in nearly all countries. A total of 22 nations have scaled back or ceased their rice exports. These are circumstances that we previously did not factor into our calculations, yet they have emerged as significant concerns," he said.

Furthermore, Jokowi drew attention to the weakening state of the global economy. He pointed out that the policies of certain countries, such as the United States raising interest rates, have introduced complexities into the economies of developing nations.

"Capital outflows are gravitating back toward the United States, further complicating matters for all of us," he added.

The ongoing war between Russia and Ukraine, along with the recent Middle East conflict between Israel and Hamas, could potentially drive up oil prices.

"It remains uncertain when the Ukrainian war will end, and another conflict has now surfaced in the Middle East. It's a growing cause for concern for all nations if it escalates to other countries, such as Lebanon, Syria, and Iraq, as it will lead to increased complications due to rising oil prices," he said. "We need to remain vigilant about this, both from a monetary and fiscal standpoint." 

Upon his arrival at IDS 2023, the president was welcomed by B-Universe Media Holdings Executive Chairman Enggartiasto Lukita, CEO Rio Abdurachman, and Jakarta Governor Heru Budi Hartono.

Notable figures in the Indonesian government and financial sector also attended the event. The guest list included among others, Chairman of the Presidential Advisory Council Wiranto, Finance Minister Sri Mulyani, BNI CEO Royke Tumilaar, and Bank Indonesia Governor Perry Warjiyo.

During the event, President Jokowi and Enggartiasto Lukita stood out in their green batik attire, symbolizing Indonesia's commitment to green development and carbon emission reduction.

"The blue and green Megamendung Cirebon batik pattern represents a fusion of cultures, harking back to Cirebon's historical role as a port city. The light blue signifies clear skies, while the dark blue alludes to cloud-filled skies brimming with nourishing rainwater," Enggartiasto said.

He went on to explain that the blue and green batik motif also holds a message of hope for economic stability. The green symbolizes a collective commitment to sustainable and environmentally friendly economic practices amid an atmosphere of optimism.

The BNI Investor Daily Summit 2023 takes the theme "Sustainable Growth, Global Challenges." The event is supported by the state-owned Bank Negara Indonesia. The event aims to instill a sense of positivity among investors, encouraging them to continue investing in Indonesia.

The event is taking place at Plataran Hutan Kota Jakarta from October 24 to 25, 2023. It serves as a platform for stakeholders to engage in discussions about how to promote sustainable economic growth amidst the challenges posed by the global landscape.
 

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