Jokowi’s Third Year: Politics & Indonesia’s Investment Climate
The Government & Regional Affairs Committee/GRAC’s first meeting of 2017 featured Doug Ramage, Managing Director, BowerGroupAsia and a leading expert on Indonesian politics, economics and business affairs.
Now in his third year in office, President Jokowi is more than half way through this term. Doug highlighted what is going right – the Jokowi administration’s excellent macroeconomic team, sound fiscal and budget policies, popular healthcare initiatives, infrastructure development and a pragmatic “getting things done” approach. Through a series of small reform packages, the government has introduced a range of measures that cumulatively are making a difference for the business environment. Areas where work remains to be done include broadening the tax base, streamlining the bureaucracy, and tackling corruption. While Indonesia is not on track to reach the government’s 7% growth target, the economy should continue to perform in the 5% range.
The GRAC also heard about the risks to watch out for as the 2019 elections approach – Will the surge in identity politics threaten reforms and democracy? And what are the implications for investors in and looking to enter the Indonesia market?
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