Chairman of BKPM in WEF Davos 2019: Indonesian Economic Growth “Slow But Sure”

Being part of several discussions at the World Economic Forum (WEF) Annual Meeting 2019, Chairman of the Indonesia Investment Coordinating Board Thomas Trikasih Lembong said that Indonesia’s economic growth was “slow but sure” and predicted to double every 14 years.

In 2017, Indonesia’s economy grew 5.07% and reached USD 1 trillion, attaining a new milestone to join the Trillion-Dollar-Club, which can only be achieved by 16 countries. “This is one of the historical moments of the nation’s economy under the leadership of President Jokowi,” Thomas said in his official statement to the media on Sunday (27/1).

According to Thomas, as a newly emerged market, Indonesia is still vulnerable to a shift in sentiment among international investors. “However, nowadays, with the trade war between the US and China, it can make Indonesia more attractive to investors,” he explained.

In addition, the Chairman of BKPM also said that the global economic slowdown had a good effect because it could open up space to reduce risks and pressures on the capital market.

The Chairman of BKPM was present in Davos, Switzerland in several WEF sessions including “Shaping ASEAN’s agenda in the Global Context”, “Future of Consumption System” and “Informal Gathering of the World Economic Leaders (IGWEL) entitled The End of Global Trade as We Know It?”. The WEF Annual Meeting 2019 was taking place from January 22-25, 2019 with the big theme “Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution”.

On the sidelines of the WEF Davos, the Chairman of BKPM also attended several side events with the Minister of Communications and Information, Rudiantara. In the Nexticorn Media Briefing event, the Chairman of BKPM expressed optimism that Indonesia would become one of the most important countries in ASEAN in term of digital economy. “Until 2025, it is expected that there will be additional 20 unicorns from Indonesia who will become players not only at the national level but also in ASEAN,” he said.

Aside from the WEF activities, the Chairman of BKPM also met a number of companies in the fields of information technology, energy, tourism, logistics, financial services, pharmaceutical industry, waste processing, e-commerce and airport services to discuss more convincing investment trends in Indonesia.

Indonesia Pavilion event in Davos was lively with more than 320 visitors attended the event from 22-25 January 2019 and recorded interests to invest in the supplement industry, paper industry, cosmetics industry, and information technology industry. Some Indonesian Ministers who also attended the Davos event were Minister of Industry Airlangga Hartarto, Minister of Trade Enggartiasto Lukita, Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan, and Minister of Communications and Information Rudiantara.

The 2019 Indonesia Pavilion event was also marked by something different from the previous years. The event displayed tech shows (Virtual Reality, Augmented Reality and Neuro Brain Wave Technology) and exhibition of Indonesian food and beverage products which allowed the visitors to experience fun in Indonesia Pavilion. In addition, Indonesia through the initiation of its national private companies also held the Indonesia Night in the form of a networking gala dinner as well as cultural performance on January 23, 2019, at Hotel Morosani Davos.