Indonesia economy

Jakarta has restricted nickel exports in order to encourage the development of a downstream processing capacity. Will it succeed?

Diversification of investment partners has been the key to the strategy pursued by President Joko Widodo's administration.

The country's banks are relatively conservative, relying on everyday loans over more risky and profitable assets.

Jokowi is making a concerted effort to move his country beyond reliance on raw materials – and by doing so, drawing attention to a lingering legacy of colonialism.

Since taking office in 2014, Indonesia's leader has eschewed the nostrums of Western neoliberalism. The country's trajectory will likely continue into a more challenging age.

There are signs of sharpening strategic competition in technology-intensive sectors such as battery manufacturing, clean energy, and data centers.

In seeding its state-owned fund with capital, Jakarta is hoping to target investments in strategic sectors.

The regulation, which intends to make Indonesia a more attractive destination for foreign investment, has been staunchly opposed by unions and environmental groups.

Despite the government's expansive vision, purpose-built, concept-driven projects like Nusantara have a poor track record of success.

Whether the $34 billion Nusantara project succeeds depends on whether the government can attract sufficient foreign investment.

Last year saw several Southeast Asian economies bounce back from the distortions and restrictions of the COVID-19 pandemic.

The two nations hope to convince European regulators that their local certification efforts conform to the EU's rigorous new regulation on deforestation.