Indonesia has pledged to make special economic zones (SEZs) a policy priority. The zones are seen as a way to boost industrial activity and job creation, particularly in more remote, less developed regions. The goal is to draw more than $50bn in investment into SEZs over the next decade, and methods include enhancing the incentives available...
Where have recent tax reforms improved the business and investment climate, and what further measures can increase the tax-to-GDP ratio?
Indonesia is the only G20 economy in South-east Asia and is home to the world’s fourth-largest population. While it possesses a variety of natural resources, taking full advantage of this endowment is challenging due to constraints such as an archipelagic geography, an infrastructure deficit and workforce inefficiencies. Reforms aimed at...
Indonesia entered 2020 trying to navigate global economic headwinds, including the pressure of uncertainty surrounding the outcome of the Covid-19 outbreak; however, the second-term election victory of President Joko Widodo, better known as President Jokowi, in 2019 and his coalition’s control of the national legislature has put the government...
The Indonesia Investment Coordinating Board (BKPM) is targeting $64.7bn worth of foreign and domestic investment in 2020, which would mark an increase of 9.4% from 2019. Around 55% of the value is earmarked to come from foreign companies. However, this target is likely to be reassessed in light of the $50bn of investments that have been...
Indonesia’s government is pursuing a raft of trade deals to complement the successful ratification of the Indonesia-Australia Comprehensive Economic Partnership Agreement, which took place in February 2020. The bilateral agreement is viewed as a win for Australia’s grain exporters, who will enjoy an initial 500,000-tonne quota for feed grain,...
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