Foreword from Ross Hunter, Executive Director UK-ASEAN Business Council
The UK has always been at the forefront of innovation by adapting to the ever-changing world. These attributes will see it thrive in the post-Brexit, ‘Asian Century’. By 2050 Asia will account for an incredible 50 percent of the world’s trade, compared with 20 percent today. As ASEAN’s powerhouse economy, Indonesia will be a key driver of this growth.
Indonesia is Southeast Asia’s largest economy and on course to be a global top ten economy by 2030. Half of the 261 million Indonesians are under 30, and the middle class is expected to almost double from 74 million to 141 million by 2020. It has climbed nearly forty places in the past two years for the 2018 Ease of Doing Business rankings, making it an increasingly attractive export destination for UK businesses.
Although there are always risks, the opportunities in Indonesia are good if businesses go about it the right way. There are opportunities for niche technologies and various infrastructure projects, such as coal transportation systems, mass transit, and power generating schemes. There is a massive requirement for infrastructure development in Indonesia and opportunities rival those of Brazil, Russia, India, and China. The largest economic sector in Indonesia is manufacturing and processing, which contributes around 24 percent of the GDP.
Winning international business is challenging and a quote often used about Indonesia is “nothing is easy, but everything is possible”. British businesses currently operating in Indonesia stress the importance of locating and screening good partners, agents, or distributors. Taking care in selecting the right partners is crucial and can help you navigate bureaucracy and regulations to help you successfully establish yourself.
The UK-ASEAN Business Council (UKABC) sits at the heart of the UK-Southeast Asia economic relationship. It aims to raise UK companies’ awareness of the region’s potential and to encourage them to trade with and invest in this dynamic market. The Union flag remains the most reproduced emblem in Indonesia and can be found almost everywhere, especially on public transport and clothing. We work closely with the British Chamber of Commerce in Indonesia who, as your in-market partner, is vital to helping you understand and then navigate the business environment.
The UKABC, BritCham, and other key partners such the Institute of Export, are all here to help more UK companies consider, explore, and invest in Indonesia’s amazing economic potential.
Executive Director, UK-ASEAN Business Council
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