TAG: Asia
Indonesia is the world’s 16th-largest economy and presents an enticing opportunity for investors, thanks to positive demographic factors and ongoing reform efforts that seek to boost confidence and investment following the re-election of President Joko Widodo. Meanwhile, the country’s four unicorn and one decacorn tech start-ups are indicative of Indonesia’s rising consumer power and regional influence, with local companies expanding into neighbouring countries. While the country is expected to face headwinds in the short term due to the fallout from the Covid-19 pandemic, its strong foundations will help it to maintain momentum in the medium to long term.
PNG’s resource wealth, coupled with its strategic location between the industrial centres of north-east Asia, the rising economies of the Association of South-east Asian Nations and the developed economies of Australasia, means it is poised for long-term growth. The government took decisive actions to prevent community transmission of Covid-19, which constrained business activity in the first half of 2020 but also left the nation well placed to recover without widespread public health consequences. While uncertainties remain as negotiations on extractive projects have yet to be concluded, PNG is expected to benefit from sustained policy efforts to nurture the productive sectors of the economy.