JAKARTA (BLOOMBERG) - When Harijanto needed more workers to make Nike and Adidas sneakers at one of its factories outside the Indonesian capital Jakarta, he couldn't make the numbers work.. Read more at straitstimes.com.
JAKARTA - When Harijanto needed more workers to make Nike and Adidas sneakers at one of its factories outside the Indonesian capital Jakarta, he couldn't make the numbers work.
"Production has been stagnant in the past three years," Harijanto, who like many Indonesians uses one name, said by phone."Buyers are reluctant to jack up the capacity here because the risks are high." Indonesia's labor laws have long been a contentious issue, frequently cited by the International Monetary Fund and investors as a brake on investment and a reason why the nation scores lower versus its peers on the World Bank's ease of doing business rankings.
Jokowi, as President Widodo is commonly known, said in a recent interview he'd consulted with business groups and labour unions and wants changes to the labour laws, including severance pay and minimum wages. He hoped these would be completed by the end of this year. To revive manufacturing and boost exports, he's pledged to lower corporate taxes and open up more industries to foreign investors.
Minimum wages in Jakarta are US$259 a month, 50 per cent more than in Vietnam, according to the World Bank.
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