Presidency of the G20, the RCEP is relaunching the domestic capital market: Minister

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This figure exceeded the achievements of Singapore (9.8%), Malaysia (minus 3.7%) and the Philippines (minus 0.2%).

Jakarta (ANTARA) – Coordinating Minister of Economic Affairs Airlangga Hartarto expects the Indonesian presidency of the G20 in 2022 and the implementation of the Regional Comprehensive Economic Partnership (RCEP) to help revive the domestic capital market.

The statement was released during the inauguration of the 2022 Indonesia Stock Exchange opening here on Monday.

Indonesia officially holds the presidency of the G20 since December 1, 2021, with the agenda starting December 7, 2021.

Meanwhile, RCEP is a free trade agreement between Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New -Zeeland, the Philippines, Singapore, Thailand and Vietnam, or ASEAN Plus Six member countries. , except India.

Currently, it is the world’s largest trading bloc, accounting for around 30 percent of the world’s population and 30 percent of the world’s gross domestic product (GDP).

The agreement has been implemented in several member countries since January 1, 2022.

However, implementation of the agreement has been delayed in Indonesia. Nevertheless, the government has targeted the application of RCEP in the first quarter of 2022.

On the same occasion, President Joko Widodo (Jokowi), who opened the event, said Indonesia should be grateful for the increase in the Indonesia Composite Stock Exchange (IHSG) and the number of investors in the mid-2021.

In addition, the IHSG achieved a 10.1% return in 2021.

“The figure exceeded the achievements of Singapore (9.8%), Malaysia (minus 3.7%), and the Philippines (minus 0.2%),” noted the president.

The President pointed out a fairly large increase in the number of people who participated in the stock exchange and became investors in the capital market.

According to data from the Financial Services Authority (OJK), the number of investors only reached 1.1 million in 2017.

However, there are currently 7.4 million investors, mostly young millennials as individual investors.

At the opening Monday, the IHSG rose 4.78 points, or 0.07%, to 6,586.26. Meanwhile, the group of 45 largest stocks, or the LQ45 index, rose 1.01 points, or 0.11%, to 932.42.

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