World Economy

Indonesia to Boost Faltering Growth

Indonesia  to Boost Faltering GrowthIndonesia  to Boost Faltering Growth

Container ships dot the horizon off the coast of Jakarta, as cranes and laborers work on an ambitious, economy-boosting project to expand the port network in the world’s largest archipelago nation, AFP reported. New Priok will be Indonesia’s biggest port once completed, and is one of 24 ports planned to overhaul maritime connections in Southeast Asia’s top economy, which comprises more than 17,000 islands. President Joko Widodo is leading efforts to improve dilapidated maritime infrastructure in a country where ships face lengthy delays before berthing and goods can get stuck for days as they run a gauntlet of government agency checks. “This is no longer a wish, but a necessity,” Widodo recently said of improving ports after Indonesian growth hit a six-year low of 4.7% in the first quarter. The port plan is part of a broader scheme to improve infrastructure, from potholed roads to creaking train lines, as the country seeks to lure foreign investors and pull out of a long slowdown driven by falling prices of its key commodity exports.