OBG’s editorial manager highlights need to relay country’s selling points at key conference
With one of the fastest-growing economies in the world, Indonesia has plenty of tangible sectoral opportunities to attract foreign investors, according to Josh Franken, Editorial Manager for Oxford Business Group (OBG), the global publishing, research and consultancy firm.
Franken said at a major conference on the economy that Indonesia was already generating considerable interest among the global investment community, thanks to its $720 billion economy, abundance of natural resources and anticipated GDP growth for 2011 of at least 6%.
“As a result, Indonesia is now considered by many economists and international financial institutions to be the next BRIC (Brazil, Russia, India and China) economy,” he said.
He said that the country now needed to match its upside potential with high-level communication which relayed its plans, progress and achievements to investors on the global business stage.
Franken acknowledged there were challenges to economic growth in Indonesia, such as work to be done on infrastructure and the need to reduce red tape for business processes. But he added that as these were addressed, it would heighten the need to communicate the country’s long-term vision for economic development.
“What investors need is tangible, reliable information regarding the types of reforms and initiatives which are not only being discussed but actually being implemented,” he said.
Franken was speaking at the launch event for the Indonesia International Conference Focus on Indonesian Economy 2011 (IICFIE 2011) which took place in Jakarta on 23rd March 2011.
OBG’s editorial manager was chairing part of the event, which will be followed by a high-level, two-day forum at the end of May titled ‘Indonesia Economic Corridor: Masterplan for Acceleration and Expansion of Indonesian Economic Development 2011 and 2025’.
Franken highlighted the key role forums such as IICFIE 2011 play in communicating Indonesia’s progress to investors, saying they provided an important platform to explore the government’s policies and identify ways of boosting economic growth.
“Indonesia must continue to work tirelessly, not only to address the many challenges that are considered to be road blocks to real economic growth, but to also effectively communicate its masterplan for the country as it attempts to accelerate and expand its economic development,” he said. “For that reason the Indonesia International Conference Focus on Indonesian Economy 2011 is of vital importance.”
OBG is currently preparing the groundwork for its forthcoming publication The Report: Indonesia 2011, which will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, political landscape, banking and sectoral developments.
Written by a team of OBG analysts who will be based in the country for more than nine months, it will include the latest economic data available, alongside interviews with leading political, economic and business figures. The Report: Indonesia 2011 will be available in print form and online.