Indonesia Economic Snapshot 2024
Click here to read our Indonesia Economic Report and Investment Analysis 2024 online …
Leonard Arpan Aritonang, Partner, LSM Law Firm: InterviewOBGplus
In the five years leading up to 2022 the government worked to centralise permit applications through an online single submission (OSS) system to make the submission and processing of such applications more efficient. In light of this, Law No. 11 of 2020 on job creation (Job Creation Law) amended Law No. 30 of 2014 on government administration (Government Administration Law). However, in November 2021…
First Gulf-ASEAN summit supports inter-regional collaborationOBGplus
Trade between the ASEAN and the Gulf Cooperation Council (GCC) has grown considerably in recent years, as economies in both regions seek to capitalise on mutually beneficial opportunities, and diversify their trade and investment partners. Indeed, trade between the GCC and Asian countries classified as emerging and developing by the IMF increased 34.7% from $383bn in 2021 to $516bn in 2022, according…
Indonesia's human capital initiatives: jobs, education and upskillingOBGplus
Indonesia has made steady progress in economic development in recent years, anchored on the Golden Indonesia 2045 vision, which aims to industrialise the country, raise the GDP per capita to $25,000 and create 10m jobs by 2045. Prepared by the National Development Planning Agency (BAPPENAS), Indonesia’s National Medium-Term Development Plan (RPJMD) 2020-24 is designed to ensure long-term sustainability…
Global markets issue green, social bonds for sustainable growthOBGplus
Alongside significant political efforts to speed up the energy transition, green finance has been a key tool in financing growth, as governments, international institutions and lenders alike seek to support the shift towards renewables. The issuance of green bonds – financial instruments that fund environmentally sustainable projects – hit a new record of $596.3bn in 2021, according to the Climate…
Emerging markets shifting towards sustainability initiativesOBGplus
Impact investment – which is purposely designed to generate tangible social and environmental benefits alongside financial returns – presents promising risk-adjusted prospects. This type of investment not only provides value for investors, but can also greatly advance the UN Sustainable Development Goals. A Maturing Sector Impact investing continues to expand in both depth and sophistication,…
Digital payment platforms grow with high demand in emerging marketsOBGplus
Despite the ongoing macroeconomic and geopolitical headwinds experienced by the global economy, one area of the international financial system that has shown steady progression is digital payments. Since the Covid-19 pandemic, they have been spurred by a jump in remittance flows, greater availability of digital infrastructure and services, and higher consumer demand for fast and seamless non-physical…
Alternative energy production accelerates amid the energy transitionOBGplus
The energy transition continued apace in 2023 despite ongoing geopolitical tensions, disruptions to supply chains and inflationary pressures – all of which translated into high energy prices around the globe. Even though prices descended after reaching historic highs in 2022, they remain higher than three years prior, which may mark an inflection point in shifting the global energy system away from…
Emerging markets target electric vehicle manufacturingOBGplus
With electric vehicles (EVs) set to become more accessible to drivers around the world – and solid growth trends attracting public and private investment – several emerging markets are looking to expand their EV manufacturing capacity. EV uptake is essential to the global energy transition, as transport remains the industry with the highest reliance on fossil fuels, producing an estimated 37% of…
Global travel rebounds with digital innovation and spendingOBGplus
The global tourism sector is gradually recovering from the impact of the Covid-19 pandemic. According to UN Tourism’s World Tourism Barometer published in January 2024, international tourism ended 2023 at 88% of pre-pandemic levels, with an estimated 1.3bn international arrivals. The revival has been underpinned by the release of pent-up demand, increased air connectivity, and a robust resurgence…
