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After polls, businesses hope for smooth political transition
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A worker checks a large screen showing presidential candidate Prabowo Subianto and running mate Gibran Rakabuming Raka, the eldest son of outgoing President Joko “Jokowi“ Widodo, before the start of an event where quick count results were displayed in Jakarta on Feb. 14, 2024. (Reuters/Kim Kyung-Hoon)
Foreign and local businesses have expressed confidence that the results of the presidential election held on Wednesday will support a smooth political transition and continuity for investment projects.
Quick counts conducted by private pollsters after voting booths closed point to a one-round victory for Prabowo Subianto, as they suggest the defense minister secured at least 57 percent of the total vote, well above the threshold of 50 percent.
However, the official results from the General Elections Commission (KPU) will only be published in late March.
“One round is probably easier [for businesses] because it will be less disruptive,” American Chamber of Commerce managing director Lydia Ruddy told The Jakarta Post on Wednesday.
Ruddy said a smooth transition was important in any election and a single-round decision could support that by affording the government-elect more time to prepare before taking the reins in October.
If no candidate won an absolute majority in round one, a runoff would need to be held in June, she added.
However, she noted that the political transition would play out over the coming months and that its overall smoothness was “still a question mark”.
