As the largest economy in Southeast Asia with a population of 250 million and a GDP of over $860 million, Indonesia is poised to become one of the world's top emerging economies. With 4.8% GDP growth in 2015 and predicted growth of 5.1% in 2016, the country has seen economic development even amid recent turbulent global economic conditions. However, Indonesia has not been immune to falling commodity prices and lower demand, resulting in slight drops in exports.
In order to maintain growth, the government is planning an ambitious infrastructure agenda in building new airports, train lines and ports, while hoping to attract more foreign investment. The central bank also eased rates six times in 2016, which helped to boost spending.
In the past, investors often experienced serious difficulties in dealing with complicated regulations and lengthy bureaucracy. The authorities have taken steps to make it easier for foreign investors such as cutting red tape and reducing taxes. In recent years, the authorities have tried to streamline application procedures and reduce waiting times to obtain permits as well as open up more sectors for investment.
To help members understand more about Indonesia's economic developments and increasing investment opportunities, at this Belt & Road Series roundtable seminar on 15 March, Consul General of Indonesia Tri Tharyat, will talk about new investment incentives and projects, and Hong Kong entrepreneur Andy Wong, who set up a manufacturing plant in the country, will give his experience of doing business in Indonesia.