Since declaring independence from the Netherlands in 1945, Indonesia has become one of the world’s fastest developing and most economically promising nations. Its assumption of the presidency of ASEAN in 2011 testified both to the increasing interconnectedness of the region as well to the evolution of an Indonesian political system just over a decade removed from authoritarianism. Indonesia’s new...
Indonesia
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Chapter | Country Profile from The Report: Indonesia 2012
Includes information about Indonesia’s geography, history, economy, government, foreign relations, population, language and culture.
An archipelago of over 17,500 islands, Indonesia is today the world’s fourth-largest country by population, at 245m. The astonishing diversity of ethnicities and cultures comes together in a democratic framework under the pancasila, or “five principles”: nationalism, humanitarianism, representative democracy, social welfare and monotheism
As hydrocarbons production in maturing blocks has declined and domestic energy consumption has increased, the Indonesian government has been looking for ways to boost investment in the country’s upstream oil and gas sector. Some of the measures the government has undertaken have proved effective at attracting investors, including increased incentives and a more flexible production sharing contract (PSC) framework introduced in 2008. However, regulations that were implemented in early January 2011 may have the opposite effect.
Economic update | Indonesia: Powering up
3 Jan 2012
Plans are in place to develop Indonesia’s nuclear power capacity to overcome the country’s shortage of electricity and ease its dependence on hydrocarbons. However, some concerns remain as to the safety of atomic energy in a quake-prone region so soon after the disaster in Japan, with opponents to the scheme pushing alternative energy as the answer to Indonesia’s power needs.
Local business leaders and foreign investors alike are expressing confidence in the outlook for Indonesia’s insurance sector. Continued economic growth, low levels of penetration and strong performances from leading firms this year are all upside indicators. The market is a competitive one, and insurers are actively examining new strategies for capitalising on its considerable potential.