Jakarta. The government has announced a series of new policies aimed at protecting and revitalizing labor-intensive industries, including textiles, footwear, furniture, food, and beverages, in response to widespread factory closures and mass layoffs.
The move comes amid declining orders, rising production costs, and weakened competitiveness, which have forced numerous companies to shut down. One of the most notable cases is the recent bankruptcy of Sritex, Indonesia’s oldest textile company, which resulted in more than 10,000 job losses in Central Java.
Chief Economic Minister Airlangga Hartarto revealed on Wednesday that the government will introduce…