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About Indonesia

Indonesia’s population of 258 million makes it the fourth most populous country in the world. The country has a young, growing and rapidly urbanizing population that makes it one of the fastest growing consumer markets in the world. Its economy is ranked as the tenth largest in the world. Valued at US$ 941 billion, it is projected to grow by 5.5% in 2017.

The government has unveiled various measures to stimulate investment, strengthen competitiveness, and diversify the economy. Given its abundant natural resources; political stability; attractive investment climate; and strong focus on developing its infrastructure, Indonesia is poised to transform into a great economic power.

Population: 258.32 million
Inflation Rate: 3.8%
Currency: Indonesian Rupiah (IDR)
Ave Exchange Rate: IDR 13,483 : US$ 1
Imports: US$ 129.1 billion
Exports: US$ 144.4 billion
GDP: US$ 941 billion
GDP per capita (PPP) US$ 11,700
Real GDP Growth 5%
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This report is designed to provide an overview of the medical technologies sector in Indonesia, which is valued at US$ 900 million. The country harbors ambitions to develop its local medtech sector, and local factories are starting to produce medical equipment such as laboratory tools, radiolo...

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This report is designed to provide an overview of the smart cities sector in Indonesia. The country offers a number of opportunities in the smart city space, bolstered by its rapid urbanization and development. According to market research firm International Data Corporation (IDC), the Indones...

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Indonesia Country Profile

The report offers a wide range of data and information collected from various sources that were built together in order to provide not just facts but deeper insights about the country. Unlike other country reports that focus more on macro-economic data, we think that the most valuable part of ...

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This report is designed to provide an overview of the water and wastewater sector in Indonesia, which is facing multifaceted challenges, given that almost 40% of Indonesians have no access to adequate sanitation facilities, while a third do not have clean drinking water. The Indonesian governm...

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Indonesia And European Free Trade Association Sign Trade Deals

Indonesia  -  January 2019

Indonesia and the European Free Trade Association (EFTA) signed the Comprehensive Economic Partnership Agreement (CEPA) on 16 December 2018. The agreement was reached between Indonesia and the EFTA countries – Switzerland, Liechtenstein, Norway and Iceland – after eight years of negotiations. The discussion on market access for Indonesia’s palm oil to EFTA countries was the main concern in the delayed negotiations.

The CEPA provides market access of goods from Indonesia and EFTA, as well as increase economic cooperation and investments between the countries. Through EFTA, Indonesia will obtain market access in terms of:

  • Goods: Fishery, textile, furniture, bicycle, electronic, tire, coffee, palm oil, agricultural products and palm oil.

  • Services: Intra-corporate trainees, contract service suppliers, independent professionals and young professionals of the EFTA.

  • Investment: Energy, mining, machineries, agriculture, infrastructure, fisheries, forestry and chemical industry.

In addition, Indonesia will receive opportunities in cooperation and capacity building in fisheries and marine, export promotion and tourism, small and medium enterprises (SMEs), cocoa, sustainability, maintenance, repair and overhaul (MRO) and vocational education.

According to the data by the Central Statistics Agency (BPS), trade between Indonesia and EFTA reached USD 2.4 billion, while investment of EFTA to Indonesia stood at USD 621 million. Indonesia’s exports to EFTA include jewelry, optical devices, gold, telephone devices and essential oils. Indonesia imports gold, turbo jet machines, medicines, fertilizers and raw industrial materials from EFTA.

(Sources: The Jakarta Post; Nikkei Asian Review)

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Tv gaming ict


Filipino Organization Invests USD 2 Million In Indonesia's Esports Scene

Indonesia  -  January 2019

Filipino esports organization, Mineski, is pouring USD 2 million in the Indonesian esports market in 2019, betting on the country’s ranking as the second-largest gaming market in Southeast Asian. The esports industry in Indonesia is set to reach USD 879.7 million this year.

To grow Indonesia’s esports scene, Mineski plans to leverage all its three main business units: Mineski Infinity, Mineski Events Team (MET) and Mineski Professional Team. The USD 2 million investment will be coming through MET Indonesia to improve the country’s competition and esports’ infrastructure. The company has also unveiled plans to host multiple esports tournaments in Indonesia, such as the Garuda Garuda Cup, the Indonesia Professional Gaming League and Dota 2’s Jakarta Masters.

Mineski has existing relationships with one of the Indonesia’s biggest telecommunications provider, Telkomsel, and two e-commerce unicorns, Go-Jek and Tokopedia. It is looking to build upon the partnership to strengthen its presence in Indonesia.

(Sources: Esports Insider; Fox Sports Asia; Esports Observer)

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Offshore platform oil gas


Indonesian Energy Ministry Approves Merakes Development Project

Indonesia  -  January 2019

In December 2018, the Minister of Energy of Indonesia approved Eni’s investment plan for the Merakes project, located in Kutei Basin, offshore East Kalimantan. Eni is an Italian multinational oil and gas company operating in 71 countries worldwide.

The Merakes development project consists of drilling and construction of subsea walls with a dedicated transport system in water depths of up to 1,500 metres and connected to the Jangkrik Floating Production Unit (FPU). The gas will then be shipped to the Bontang LNG plant using existing facilities. This new production will contribute to the life extension of the plant and help meet EWQ1`EWDthe ongoing gas demand in Indonesia.

Eni also successfully drilled and tested the Merakes East prospect in East Sepinggan block, located 3 kilometers east of the Merakes Field. The proximity of this new discovery will allow Eni to maximize the synergies among the subsea infrastructures, as well as save time and cost of the execution of the future subsea development. Eni is the operator of East Sepinggan Contract Area through its subsidiary Eni East Sepinggan Limited which holds an 85% Participating Interest, while PT Pertamina Hulu Energi East Sepinggan holds the remaining 15%. 

The Eni BoD approval came just a few days after the conversion to the Gross Split Scheme of the East Sepinggan PSC (Production Sharing Contract) and the approval of the revised field development plan under the terms of the Gross Split by the Minister of Energy of Indonesia. Eni has agreed to use Gross Split Production Sharing Cost (PSC) scheme to develop the gas field as opposed to conventional cost recovery. The gross split PSC, which removes the cost recovery element, with all production directly split between the government and the participants, was introduced in late 2016 to stimulate investment in upstream oil and gas in Indonesia, by streamlining the regulation of the sector. 

(Sources: Offshore Engineer; Kallanish Energy; Eni)

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Doctor medical technology mobile


Indonesian Health Tech Startup Gorry Holdings Secures Fresh Funding

Indonesia  -  January 2019

Jakarta-based health tech startup, Gorry Holdings, has successfully raised funding from Singapore’s private equity firm, Heritas Capital Management, for an undisclosed amount. The funding will be utilized to create new services and speed up expansion across Indonesia.

The startup has invested in analytics, big data capabilities and machine learning to support its two platforms: GorryWell and Gorry Gourmet. GorryWell offers a one-stop digital wellness platform, taking in users’ health biometrics and offering recommendations which include food journal, calorie intake, deficit tracker, activity tracker and daily activity challenge. Gorry Gourmet offers nutritionist-approved food subscription. The meals are catered to individual’s needs ranging from weight loss, muscle gain, pregnancy and special needs.

The company is also working closely with the government, becoming an official partner of the Indonesia’s Ministry of Health (MOH)’s National Health Campaign Initiative. It is also developing “HealthyChoice” label for restaurants that meet the requirements, ased on ingredients and macronutrient data. 

Indonesia’s health tech is set to be the next unicorn farm with big potential. Currently, the key players are Halodoc, Alodokter and PesanLab. The Indonesian government is also supporting the movement by allocating 5% of the state budget to facilitate tech-based health services.

(Sources: KrAsia; Deal Street Asia)

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Jakarta Plans To Fine Retailers For Single Use Plastic Bags

Indonesia  -  January 2019

According to a report in the Jakarta Post, Governor Anies Baswedan is drafting a gubernatorial regulation to ban single-use plastic bags in Jakarta. The draft would come into effect in January 2019.

Once the regulation is legalized, the Jakarta Environment Agency will organize an awareness campaign on the ban of plastic bags for the first six months. Afterwards, retailers, plastic producers and merchants that still issue single-use plastic bags will be fined between IDR 5 – 25 million (USD 350 – 1,750).

Around 14% of waste produced in Jakarta daily are plastics and 1% of the plastics are non-degradable, single-use plastic bags. The Jakarta Environment Agency has been promoting environmentally friendly bags at retailers and traditional markets and started exchanging plastic bags with green bags.

In December 2018, the popular tourist island of Bali in Indonesia banned single-use plastics like shopping bags, styrofoam and straws 

(Source: The Jakarta Post)

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Indonesian Government Opens Six Weighbridge Revitalization Projects

Indonesia  -  January 2019

The Indonesian Transportation Ministry presented six weighbridge revitalization projects worth IDR 330.66 billion (USD 22.80 million). The projects will comprise of three weighbridges in Sumatra – Muara Tembesi (Jambi), Merapi (South Sumatra) and Blambangan Umpu (Lampung) – and three others in Java – Tanjung and Subah (Central Java) as well as Guyangan (East Java).

The Indonesian government invites the private sector to join the pilot projects, which will be financed through the public-private partnership (PPP) scheme. A 15-year contract for the companies will be issued with investors required to design, finance, build and maintain the weighbridges for a specified period of time in accordance to regulations. Through the state-owned infrastructure financing guarantee company, PT Penjaminan Infrastruktur Indonesia (PII), the ministry would give guarantees for the investors in all six projects.

Currently, the ministry is in the midst of checking the weighbridges’ condition. The tender prequalification will be carried out in the middle of 2019.

(Source: Jakarta Post)

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Semiconductor production


iPhone Assembler Considering Setting Up Plant In Indonesia

Indonesia  -  January 2019

Pegatron Corp, a Taiwanese electronics manufacturer that assembles iPhones, is considering to set up a plant on Batam Island, Riau Islands. If confirmed, the investment is estimated to be worth USD 1 billion. It will also employ 8,000 to 10,000 workers in the rented factory.

Currently, Indonesia is competing against Vietnam and Thailand to secure the investment. Once Pegatron has made the decision, the company would need two quarters to move, install and certify equipment before the plant can be fully operational.

Batam was considered as a viable choice, considering the island's position in a free-trade zone in the Indonesia-Malaysia-Singapore Growth Triangle. It is also strategically located near Singapore.

This move has been prompted by the trade war between the US and China, and the fear of US tariffs on products manufactured in China. Other companies have also indicated  that they might move away production from China include another iPhone assembler, Wistron, Apple Watch makers, Quanta Computer and Compal and AirPods maker, Inventec. In January 2019, Wistron authorized its subsidiary in India to spend USD 341 million to expand operations in the country, which include assembly of the iPhone SE and iPhone 6S for the local market.

(Sources: Apple Insider; AsiaNews; The Jakarta Post; Nikkei Asian Review)

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Indonesian Defense Ministry Procuring Helicopters Worth USD 513 Million

Indonesia  -  January 2019

State-owned aircraft manufacturer, PT Dirgantara Indonesia (PT DI), and the Defense Ministry have signed a contract to purchase eight H225M Cougar helicopters and nine Bell 412EPI helicopters. The deal is estimated to be worth USD 330 million and USD 183 million respectively. The Cougar helicopters are a product of cooperation between PT DI and Airbus Helicopters, France. Bell helicopters is sourced from Bell Helicopter Textron Inc., Canada.

The procurement was made under the discretion of President Joko Widodo to be used for natural disaster management. The Cougar helicopter will be used as transportation for Indonesian Air Force in disaster affected areas, meanwhile the Bell helicopters will be given to the Indonesian Army Force. The procurement of the Cougar helicopters is to be completed within 24 months, while the Bell helicopters are going to take 36 months in consideration of limited production capacity of the company of 10 units per year.

Subsequently, the ministry is looking to acquire a special aircraft to address forest fires. The purchase is expected to be carried out this year.

(Source: Tempo)

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Department store


Aeon Partners With Go-Jek To Speed Up Retail Expansion

Indonesia  -  January 2019

Japanese retail group, Aeon, has partnered with Indonesian ride-hailing startup, Go-Jek, on digital payment and home delivery services. Started in mid-December, the partnership aims to accelerate Aeon’s overseas expansion. Under the new strategy, Aeon will utilize Go-Jek’s Go-Pay cashless payments and provide home deliveries with Go-Jek drivers.

Currently, Aeon has two large shopping centers in Indonesia and three new outlets are planned to be opened after the 2019 business year. Aeon is combining its brics-and-mortar stores and technology-driven services to keep up with changing customers’ attitudes. Go-Jek provides flexibility using motorbikes delivery, without Aeon having to build out their own logistics network.

Go-Jek hopes its partnership with Aeon will drive its presence in South East Asia, as it is expanding to Vietnam and later to Thailand and the Philippines. Both Aeon and Go-Jek plan to cooperate in other markets besides Indonesia.

(Source: Nikkei Asian Review)


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Customized Agent/ Distributor/Reseller Search

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Sourcing Services

There is a growing interest in sourcing for products from South East Asia for strategic and competitive reasons. Companies from around the world are looking for suppliers in Malaysia, Thailand, ...

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Business Incorporation/ Site Selection

We counsel businesses on where to locate their office and industrial operations and what the optimal business structure should be to meet local government and tax requirements. Some of the quest...

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Market Research

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Trade Show Support

Many companies participate in trade shows hoping to find customers or local agents or distributors. However, they come away from these events with less than desired results. But with our trade s...

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Additional Services

Based on past experience in helping companies that are looking to grow their exports to one or more markets in South East Asia, we have found that some of these additional services that we offer...

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Trade Mission Organization

Visiting a market to meet with prospective customers or partners is essential as business is built on developing personal connections and understanding the local culture. Traveling ...

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Trade Show Support

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