Background
Indonesia has a market-based economy in which the government plays a significant role. There are 139 state-owned enterprises, and the government administers prices on several basic goods, including fuel, rice, and electricity.
Indonesia, a vast polyglot nation, has weathered the global financial crisis relatively smoothly because of its heavy reliance on domestic consumption as the driver of economic growth. Increasing investment by both local and foreign investors is also supporting solid growth. Although the economy slowed to 4.5% growth in 2009 from the 6%-plus growth rate recorded in 2007 and 2008, by 2010 growth returned to a 6% rate. During the recession, Indonesia outperformed most of its regional neighbors. The government introduced significant reforms in the financial sector, including tax and customs reforms, the use of Treasury bills, and capital market development and supervision. Indonesia's debt-to-GDP ratio in recent years has declined steadily because of increasingly robust GDP growth and sound fiscal stewardship, leading two of the three leading credit agencies to upgrade credit ratings for Indonesia's sovereign debt to one notch below investment grade.
Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. In late 2010, increasing inflation, driven by higher and volatile food prices, posed an increasing challenge to economic policymakers and threatened to push millions of the near-poor below the poverty line. The government in 2011 faces the ongoing challenge of improving Indonesia's infrastructure to remove impediments to growth, while addressing climate change concerns, particularly with regard to conserving Indonesia's forests and peat lands.
Holidays
Jan 1 - New Year's Day
Jan 21* - Eid al-Adha (Feast of the Sacrifice)
Feb 9-11~ - Chinese New Year
Feb 10* - Muharram (Islamic New Year)
Mar 25~ - Good Friday
Apr 9~ - Nyepi (Hindu New Year)
Apr 21* - Mouloud (Birth of the Prophet)
May 5~ - Ascension
May 23~ - Waisak Day (Buddha's Birthday)
Aug 17 - Indonesian Independence Day
Sep 12* - Lailat al Miraj (Ascension of the Prophet)
Nov 14-16* - Eid al-Fitr (End of Ramadan)
Dec 25 - Christmas Day
Ps: Muslim festivals(*) are timed according to local sightings of various phases of the moon and the dates given above are approximations. Buddhist and the other festivals(~) are also timed according to phases of the moon and variations may occur.
Phone Codes
Country Code: 62
Outgoing International Code: 00
Main Area Codes:
Bandung 22
Jakarta 21
Medan 61
Surabaya 31
Resources
Market Research
AsianInfo.org
This website provides introduction to Indonesian culture and traditions and general information; links to a variety of other websites including news, business, government and entertainment.
BKPM, Investment Coordinating Board
Investment service agency of the Indonesian Government implementing the enactment of law on foreign as well as domestic investment; website provides information such as business directory, laws and regulations, intellectual property rights, regional potentials and business matchmaking.
The Jakarta Post
Largest English paper in Indonesia providing the latest news and a wealth of information on Indonesia such as politics, business, culture as well as weekly roundup for recent past news.
CIA - The World Factbook - Indonesia
This website indicates a wide range of detail information about Indonesia by introducing under 8 different fields as its geography, people, government, economy, communications, transportation, military, transnational issues.
About Indonesia
There is available to find out Indonesian general outlook on the issues of its social and business profile, passport/visa, money, accommodation, government, duty free, health and so forth.
Trade Information
DIGITAL EXPO INTERNATIONAL
Operator of B2B horizontal e-marketplace providing wide range of business services including financial services, advertising and promoting, transportation and logistic support, insurance, aggregated buying, marketplace benchmarks and performance indicators, supply chain planning, forward and freight shipping and collaborative design.
Tradeindonesia.com
Gateway to business with Indonesia; provides export and import information, business partner search, business opportunities, country and cultural briefings, company information, internet marketing, event and travel information.
|
