A vast island country with a population of over 250 million people, Indonesia is one of the world’s biggest exporting countries and home to one of the top 16 largest economies in the world. It’s projected that by 2030, it could be the 7th largest economy in the world.
A mixed economy makes Indonesia an attractive location for businesses in various sectors. A major exporter of gold, zinc, copper and steam coal, Indonesia is also the largest global producer of crude palm oil. Major imports include machinery and equipment, food, chemicals and fuel. The country is also home to large automotive, electronics and chemical producers.
With productivity and employment having risen steadily over the last few years, entrepreneurs in Indonesia not only have access to a vast, competent talent pool and abundant natural resources, but also a rapidly increasing consumer class.
Despite having a reputation as a country with high levels of bureaucracy and complex legal and regulatory laws, Indonesia offers significant opportunity for new business. Entrepreneurs looking for fast results are set to be disappointed, however, the rewards of doing business in Indonesia in the long-term can be quite substantial.
Strategically positioned to do business with China, Japan and Australia, Indonesia is a member of ASEAN (Association of Southeast Asian Nations), which has a free trade zone. Due to the low cost of setting up in Indonesia, there’s a high demand for office space in Jakarta with an occupancy rate of 90% or more across the cultural and capital city. Due to this high demand, there are many developments taking place to expand the city and surrounds and improve infrastructure to accommodate the growing demand within the next few years.
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