After the Asian financial crisis in 1998, Indonesia implemented a series of sound fiscal policies and political reforms that successfully reduced public debt and improved the investment climate. The country has since developed into a vibrant democracy with the largest and most dynamic economy in Southeast Asia.
With a population of 270 million and growing, Indonesia is currently the largest market in Southeast Asia and the fourth largest in the world. Indonesia's GDP has grown at a consistent pace -- at just above 5% in the past year -- while interest rates have also remained low and domestic consumption has risen. The Indonesian government has vowed to continue implementing prudent macroeconomic policies and structural reforms to further enhance the ease of doing business and improve the country's investment climate.
The Indonesia section of the ASEAN-Hong Kong FTA entered into force in July 2020, meaning the country will progressively reduce and eliminate customs duties on goods originating from Hong Kong, including jewellery, apparel, accessories, watches, clocks and toys. Hong Kong service providers in sectors including business services, construction and engineering services, and tourism, will also benefit from better business opportunities and greater legal certainty.
All the above makes Indonesia an increasingly appealing market and investment destination for Hong Kong companies who are considering expanding their business.
How can businesses take advantage of the reforms and what tax incentives are available? How can Hong Kong business benefit from the ASEAN-Hong Kong FTA in Indonesia? How does Indonesia compare to its competitors in the region as a manufacturing hub?
To answer these questions, the Chamber, with the support of the Consulate General of the Republic of Indonesia in Hong Kong, has organized a webinar on 17 September to explore business opportunities in the country.
Yudi Triantoro, Director of ASEAN Negotiations at the Ministry of Trade of Indonesia, will give members an in-depth analysis of the benefits of the FTA and Hong Kong's evolving role in it. Francois de Maricourt, the newly appointed Country Manager of HSBC Indonesia, will brief members on the business environment in the country and advise members how best they can enter the market, covering issues including business set-up, laws and regulations, taxation and banking.
This is an invaluable opportunity to meet experts on Indonesia and learn about the country's latest opportunities, so register now!
To minimize the risk of spreading the coronavirus, this informative session will be conducted in the format of a webinar. Upon successful registration, registrants will receive a confirmation email with a specific link to access the webinar on the event date.