What can the government do to boost the domestic shipbuilding industry?
Indonesia Industry
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Interviews & Viewpoints | Eddy K Logam, Chairman, Indonesia Ship Building and Offshore Association (IPERINDO): Interview from The Report: Indonesia 2015
Industrial development is perhaps the most important pillar of Indonesia’s long-term economic expansion strategy, and the nation has made significant economic strides in recent years as a result of its fast-expanding industrial sector. The country is now poised to outpace Thailand and Malaysia as a major regional manufacturing and export hub, and investors are increasingly choosing Indonesia...
Indonesia is transforming from a resources- and consumption-based economy to a more manufacturing- and investment-oriented one, working to build an industrial base that will allow it to reduce its dependence on imports and keep more value within the economy. Following his inauguration in October 2014, President Joko Widodo quickly took a number of vital and positive steps that so far are increasing opportunities for foreign direct investment.
A flurry of major infrastructure projects in Indonesia is set to boost the construction sector, although growth in the domestic building materials industry remains hamstrung by regional competition and government intervention in some cases.
The textiles industry in Indonesia is growing steadily, nudging Jakarta closer to its long-term goal of rivalling China as a global leader in garment exports. However, sector players say stronger trade pacts are needed as well as more investment to maintain a competitive edge in the regional and international marketplace.
Growth in Indonesia’s manufacturing sector continues to outstrip the rest of the economy, with gains in most industries well above those of the national average. Some regions away from Java posted even higher rates of expansion, though there are lingering concerns some of this growth is underpinned by a reliance on commodities imports – one that fuels the current account deficit.