TheJakartaPost
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Better made in Indonesia
Indonesia is today one of the top-10 largest manufacturing nations in the world, defined by output. Its textile production industry also sits among the world’s top 10, and the country is also well-regarded for its natural resources industry and tourism.
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Visitors look at exhibits at Pamerindo’s Manufacturing Indonesia exhibition at Jakarta International Expo, Kemayoran, Jakarta, on Wednesday, Dec. 4. (JP/Arief Suhardiman)
I
ndonesia is highly regarded as a decacorn hotbed. But the country has a lot more to offer the world and make its name known, as the small “made in Indonesia” label often found on the back of exported products can be mightier than it seems — much like the small and medium enterprises (SMEs) that hold the key to differentiating Indonesia as it becomes one of the world’s largest economies by 2050.
Business optimism is on the rise in Indonesia, with 98 percent of companies expecting to grow in the next one to two years, surpassing global sentiment (79 percent) according to HSBC’s recent survey of over 2,500 companies worldwide.
Whether this is due to the fact that Indonesia has seen the stellar rise of several decacorns in the past three short years or subject to the confidence of its government, the market seems ready to push forward.
Indonesia is today one of the top-10 largest manufacturing nations in the world, defined by output. Its textile production industry also sits among the world’s top 10, and the country is also well-regarded for its natural resources industry and tourism.
Looking to replicate the success of its economy as, according to several reports, it looks to grow to US$7 trillion by
2045, the Cabinet is feverishly working toward fulfilling the five key strategies outlined by the new government — human resources development, infrastructure development, regulation simplification, bureaucracy simplification and economic transformation.
But while it is earmarked as one of the world’s fastest-growing economies, Indonesia is commonly pitched against its Asian neighbors, like Vietnam as an investment destination and trade partner.
