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Indonesia Economic Research Highlights

ESG in Indonesia: Access to Finance

Indonesia continues to leverage sustainable finance, aligned with the UN Sustainable Development Goals (SDGs), as investor priorities shift towards ESG metrics. The country’s inaugural G20 Presidency in...

Why environmental, social and governance alignment can raise investment appeal

Niko Safavi, President Director, Mowilex Indonesia

In this Global Platform video, Niko Safavi, President Director, Mowilex Indonesia, discusses the steps paint and coatings manufacturers can take to promote environmental and social protection, and also...

Indonesia ESG Intelligence Reports

ESG Intelligence Report

ESG and Indonesia: Which factors will drive growth?

Indonesia’s commitment to environmental, social and governance (ESG) principles is clear from its 2022 G20 Presidency focus on sustainability and environmental leadership, with topics likely to include...

ESG Intelligence Report

ESG: Indonesia’s role in ASEAN’s energy transition

Indonesia’s environmental, social and governance (ESG) and UN Sustainable Development Goal (SDG) priorities centre on the affordable transition to renewable energy, socio-economic growth...

ESG Intelligence Report

ESG report: A case study in Asia’s energy sector

Environmental, social and governance (ESG) considerations are playing an increasingly important role in Asia as investors, regulators and consumers seek products and services that offer positive...

ESG Intelligence Report

Report: The evolution of ESG in paint production in Indonesia

Investors, regulators and consumers around the globe are increasing their focus on environmental, social and governance (ESG) principles as they seek products and services that protect the environment, mitigate...

ESG and Indonesia: Which factors will drive growth?
ESG: Indonesia’s role in ASEAN’s energy transition
ESG report: A case study in Asia’s energy sector
Report: The evolution of ESG in paint production in Indonesia
 

How Indonesian financial institutions aim to attract the unbanked

Batara Sianturi, CEO, Citi Indonesia

In this Global Platform video, Batara Sianturi, CEO of Citi Indonesia, details the monetary and fiscal outlook for the country and global trends that are impacting all economies. Looking ahead...

ESG Research: Indonesia and beyond

Economic News

How tech can unlock geothermal energy in emerging markets

As countries around the world look to increase baseload power generation, reduce energy imports and decarbonise their economies, emerging markets are boosting geothermal power generation with the help of new technologies and expertise. A new drilling technology developed by Quaise Energy, a US geothermal start-up spun out of the Massachusetts Institute of Technology that uses gyrotron-powered millimetre waves to vaporize rock, could allow for producers to drill as far down as 20 km compared to the average drilling...


Economic News

How the new High Seas Treaty affects ocean conservation in emerging markets

As the international community reaches a landmark agreement to protect ocean resources, emerging markets are looking to balance conservation and the exploitation of marine resources. In the first week of March 2023 UN delegates in New York finalised the text of an international treaty outlining the sustainable use of marine resources beyond national jurisdiction. Popularly known as the UN High Seas Treaty, the document is the result of two decades of talks and represents the first international treaty on ocean protection...


Economic News

Could emerging markets become world leaders in solar power exports?

As demand for renewable energy grows globally, several emerging markets are positioning themselves as leaders in exporting solar power. Most notably, Indonesia appears to be leading the charge. In recent months five giant solar power-export projects have been proposed in the country. One project, announced in mid-April, saw Singaporean renewable energy provider Quantum Power Asia and Berlin-based Ib Vogt agree to a $5bn deal to export solar power to Singapore...


Economic News

Mining and electric vehicles: what can be done to reduce the carbon footprint?

Indonesia has taken another step towards its quest to become a leading electric vehicle (EV) player, with the world’s two largest producers of EV batteries recently announcing major projects in the country. However, these developments have highlighted the carbon-intensive nature of mining to EV production, despite hopes that the process could be further decarbonised. Headed by LG Energy Solution – the second-largest EV battery maker in the world – a South Korean consortium is set to invest $9bn in a mines-to-manufacturing...


Economic News

How does Asia Pacific rank on net-zero emissions targets?

A recent report found that relatively few companies in the Asia-Pacific region have adopted net-zero carbon emission strategies to date. Nevertheless, there are grounds for cautious optimism as pacesetters in the region announce ambitious targets and experiment with innovative decarbonisation strategies...


Economic News

How can emerging markets capitalise on geothermal energy’s potential?

While solar and wind are the dominant segments in the transition to renewables, a number of emerging markets are looking to geothermal sources as a way to meet future energy needs. Geothermal energy – which is generated when pipes drilled into the earth’s surface supply steam to power electricity turbines – lags behind other forms of renewables in terms of installed capacity; however, it is an effective solution for many countries...


Economic News

What does the future hold for Islamic finance?

After remaining resilient in 2020, the Islamic finance segment is performing strongly this year, as an improved economic environment, a rise in the number of large projects and an increased focus on environmental, social and governance (ESG) factors combine to drive demand. Despite the twin challenges of Covid-19 and the fall in global oil prices, the segment’s assets grew by 10.6% last year, according to global ratings agency S&P. Although this was down on the 17.3% growth rate recorded in 2019, it was nevertheless...


Economic News

ESG in ASEAN: a shared vision of sustainable recovery

Environmental, social and governance (ESG) criteria are increasingly shaping the global corporate agenda. ASEAN presents a range of ESG opportunities: green infrastructure will boost ‘E’ developments; alternative financing will support ‘S’ impact; and enhanced ‘G’ collaboration could facilitate a coordinated recovery from the worst economic consequences of the pandemic. ESG standards are used by investors around the world to evaluate potential investments, as well as to enable business leaders to formulate responsible and...


CEO Survey Analysis

ESG CEO Survey: Is the board room getting greener?

Across government departments, corporate board rooms and management meetings, the implementation of environmental, social and governance (ESG) strategies is at the forefront of current planning. It is not just a symbolic tick in the box either. Shareholders and investors are increasingly factoring ESG strategy and trajectory into their decision-making, and consumers are similarly becoming more aware of the fairness and sustainability of the goods they use, the clothes they wear and the services they pay for...


Covid-19 Response Reports - Indonesia

Covid-19 Response Report

Report: Where are the digital growth opportunities for Indonesia's banks in the post-pandemic world?

Alongside rising GDP and manageable public debt levels, Indonesia’s banks maintained robust performance in the six months leading to the pandemic. Monetary measures by the central...

Covid-19 Response Report

Report: How the pandemic is reshaping ASEAN construction demands

Construction – and infrastructure development in particular – is expected to be a key driver of economic growth across ASEAN from 2021. The bloc, home to some of the world’s fastest-growing economies...

Covid-19 Response Report

Report: Will the Covid-19 pandemic reshape Indonesia’s multifinance industry?

Indonesia’s robust economic growth in the years leading up to the pandemic, combined with low public debt, provided the country with a stronger cushion than in previous global crises...

Covid-19 Response Report

Report: How did telemedicine enhance Indonesia’s response to Covid-19?

Indonesia was in the process of rolling out its Universal Health Care system prior to Covid-19, but disparities in service provision and accessibility remained between different regions. This report looks at how...

Covid-19 Response Report

Report: Can Indonesia make a sustainable recovery from Covid-19?

Indonesia entered the pandemic period on the cusp of reform, with the newly elected government determined to support human capital development and address structural challenges to growth and...

Report: Where are the digital growth opportunities for Indonesia's banks in the post-pandemic world?
Report: How the pandemic is reshaping ASEAN construction demands
Report: Will the Covid-19 pandemic reshape Indonesia’s multifinance industry?
Report: How did telemedicine enhance Indonesia’s response to Covid-19?
Report: Can Indonesia make a sustainable recovery from Covid-19?
 

President Joko Widodo: Viewpoint

On the goals of his second term and transforming Indonesia into an advanced country

Economic Analysis: Indonesia

Overview

Policy changes and reforms to grow Indonesia's economy
OBG
plus

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...

Overview

How Indonesia is decentralising prosperity and investment
OBG
plus

Indonesia is characterised by substantial cultural diversity. The archipelago is made up of more than 17,000 islands, of which 6000 are permanently inhabited by 267m people. Until the turn of the...

Interview

Sri Mulyani, Minister of Finance
OBG
plus

On measures to encourage investment and inclusive economic growth

Overview

Diversified product offerings boost Indonesian financial services
OBG
plus

The development of Indonesia’s capital markets has been buoyed by strong investor interest and high, consumption-led economic expansion on the back of a government push to boost annual GDP growth...

Policy changes and reforms to grow Indonesia's economy
How Indonesia is decentralising prosperity and investment
Sri Mulyani, Minister of Finance
Diversified product offerings boost Indonesian financial services
 

The Report: Indonesia 2020

Indonesia is the world’s 16th-largest economy and presents an enticing opportunity for investors, with ongoing reform efforts and attractive demographics. Meanwhile, a booming start-up ecosystem signals the...

How important will Indonesia’s digital economy be for long-term, inclusive growth?

Indonesia’s economy experienced a milder slowdown in 2020 than its ASEAN-5 neighbours, according the IMF’s April 2021 World Economic Outlook, and also fared better than 16 other G20 members...

Indonesia's Digital Economy & Technology

Overview

How Indonesian fintech companies are boosting financial inclusion

Indonesia’s financial technology (fintech) sector is one of the most dynamic and competitive in the world, as evidenced by the emergence of four unicorn companies – start-ups valued at over $1bn – and one decacorn, valued at over $10bn. These new tech giants include one digital payment firm, OVO, while the rest offer a number of integrated payment options in e-commerce, ride-hailing and delivery services, and travel bookings. Surrounding them is a fast-growing ecosystem that is helping expand financial inclusion to previously underserved segments of the country.


Interview

Johnny Plate, Minister of Communication and Information Technology

On the development of the digital economy


Analysis

How is Indonesia developing its digital economy?

Indonesia is the largest economy in South-east Asia, the world’s fourth-most-populous nation, the 10th-largest economy in terms of purchasing power parity and a member of the G20. PwC’s “World in 2050” report predicted that, by 2050, Indonesia will be the fourth-largest economy in the world. However, President Joko Widodo, commonly known as President Jokowi, believes that Indonesia could reach this position even earlier, by 2045. In the first five years of President Jokowi’s administration, from 2014 to 2019, one area that particularly prospered – aside from the long-overdue focus on infrastructure development – was the digital economy. The digital economy is transforming the lives of millions of Indonesians by creating a sharing economy and boosting consumption.


Economic Update

Is South-east Asia on the verge of a wave of tech IPOs?

A record initial public offering (IPO) from Indonesian e-commerce platform Bukalapak underscores the growth of South-east Asia’s digital economy during Covid-19, and has the potential to trigger further tech listings in the region’s maturing market. The company, which runs an online marketplace primarily for small and medium-sized enterprises, is expected to raise $1.5bn by the time it lists on the Indonesian Stock Exchange on August 6, according to local and international media reports. If confirmed, this will be Indonesia’s largest-ever IPO, surpassing mining company Adaro Energy’s $1.3bn listing in 2008.


Interview

Marc Carrel-Billiard, Global Senior Managing Director and Technology Innovation Lead, Accenture Labs

On leveraging technology and narrowing the digitalisation gap


Interview

Muhamad Fajrin Rasyid, Co-Founder, Bukalapak

On how to leverage the digital economy to create growth


Interview

Kiwi Aliwarga, Founder and Executive Chairman, UMG Idealab

On how technology can support farmers and production


Analysis - Elsewhere in Indonesia's Economy

Interview

Terawan Agus Putranto, Minister of Health: Interview

On the importance of collaboration in combatting public health crises


Interview

Chris Wren, Executive Director, British Chamber of Commerce Indonesia: Interview

On what to expect when visiting the country


Interview

Chan Chun Sing, Minister for Trade and Industry of Singapore

On integrating the region and creating jobs in Indonesia


Economic Update

Can Indonesia’s Omnibus Law drive its Covid-19 economic recovery?

Indonesia’s Omnibus Bill on Job Creation became law in October, with the government set to complete its implementation by the end of the year. While it has proved controversial in some quarters, many business leaders have welcomed this development, not least for its potential to help the economy offset the effects of the coronavirus pandemic...


Interview

Agus Gumiwang Kartasasmita, Minister of Industry: Interview

On improving supply chains and harnessing technology


Analysis

Tax breaks for special economic zones in Indonesia

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 and allowing public and private sector entities to propose SEZ plans. The strategy is seen as a timely one, as it aims to capitalise on supply-chain readjustments in the region at a time...


Overview

Expanding e-governance and e-commerce in Indonesia

Indonesia’s ranking on the ease of doing business index in the World Bank’s “Doing Business 2020” report remained at 73rd of 190 countries, the same position as one year prior. The introduction of various regulations and policies that were designed to be friendly to investors apparently have not succeeded in boosting Indonesia’s ranking to 40th, which has been targeted by President Joko Widodo, better known as President Jokowi. Government Regulation No. 24 of 2018 on electronic integrated business licensing services (GR 24)...


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