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Report | The Report: Indonesia 2015

Indonesia is transforming from a resources- and consumption-based economy to a more manufacturing- and investment-oriented one, working to build an industrial base that will allow it to reduce its dependence on imports and keep more value within the economy. Following his inauguration in October 2014, President Joko Widodo quickly took a number of vital and positive steps that so far are increasing opportunities for foreign direct investment.

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Chapter | Telecoms from The Report: Turkey 2015

The telecoms sector in Turkey has long been viewed as a rising star, with a young, digitally adept population and rising personal incomes driving demand in the mobile voice and data segments. In recent years, the industry has been affected by macroeconomic issues, including a weaker lira, as well as some restrictive regulatory changes. Even so, Turks spent more than TL35.5bn (€12.5bn) on telecoms in 2014, up from TL32.2bn (€11.34bn) in 2013, according to the Information and Communication Technologies Authority. Turkey’s IT sector is benefitting from the rapid, widespread development of internet services, infrastructure investment and e-commerce activity. Internet growth is being driven by fibre-optic expansion, increased adoption of 3G mobile internet and planned nationwide 4G network services that will require significant investment from the public and private sectors. Internet speeds are increasing and Turks are embracing the latest offerings in record numbers. Infrastructure investment by domestic and foreign firms is on the rise, buoyed by demand from a young and tech-savvy population, and all signs suggest that the telecoms and IT sectors are poised for expansion in 2015 and beyond. This chapter contains an interview with Mehmet Nalbantoğlu, CEO, KoçSistem.

Chapter | Indonesia Energy from The Report: Indonesia 2015

After years of treading water, Indonesia’s energy sector is finding new optimism in the fresh faces being appointed to key government positions by the new president, Joko Widodo, with the hope that they will be able to renew investor interest in the industry and spur a wave of development. The changes at the top come at a critical time, as myriad factors continue to buffet the sector in Indonesia, which ranked among the world’s top-five liquid natural gas (LNG) exporters in 2013 and remains Asia’s second-largest natural gas producer despite continuing production declines. After years of halting progress in the power sector, the new energy strategy has the potential to add much-needed capacity to the domestic market, provided that policymakers can avoid some of the pitfalls that have affected similar rapid development programmes in the past. A concentration on building coal-fired power plants, designed to run on inexpensive, domestically produced coal, should help smooth out the process. In the meantime, the strategy’s emphasis on boosting efficiency and reducing Indonesia’s high energy intensity levels should also help to rein in the country’s domestic consumption. This chapter contains an interview with Dwi Soetjipto, President-Director, Pertamina; and an Energy roundtable with Lukman Mahfoedz, President-Director and CEO, PT Medco Energi Internasional; Roberto Lorato, President, Premier Oil Indonesia; Craig Stewart, President, Indonesian Petroleum Association and President, Salamander Energy; and Hardy Pramono, President-Director, Total E&P Indonesia.

Chapter | Indonesia Insurance from The Report: Indonesia 2015

Given Indonesia’s large population of nearly 220m – which is expanding by more than 1% per annum – its growing middle class and a GDP rising at about 6% a year, the insurance sector stands to benefit from these fundamentals in the years ahead. Overall insurance company assets increased by 14.5% in 2014, according to preliminary statistics from the Financial Services Authority (OJK), and total assets have more than doubled in the five years to 2014. However, even as insurers garner more business, there will be challenges for the OJK, as it works to achieve the right balance of regulation to ensure long-term sustainability without limiting growth or worrying investors. This chapter contains an interview with Rinaldi Mudahar, President-Director, Prudential Indonesia.

Chapter | Indonesia Capital Markets from The Report: Indonesia 2015

The number of listed companies on the Indonesian Stock Exchange (IDX) increased by 50% in the decade to 2014, and market capitalisation was up five-fold in that period. In terms of the exchange’s performance, the index has risen far more than those of its regional peers and international benchmarks. Still, the capital markets are in need further development. For the nation to grow as it hopes and plans, the IMF and others have said that it must endeavour to create markets that are larger and more sophisticated. If the capital markets continue to improve and evolve, and if the authorities are able to get more firms listed and increase the number of shareholders, volatility and risk can be greatly reduced and the markets can play a more significant role in the transformation of the economy. This chapter contains interviews with Muliaman D Hadad, Chairman, Financial Services Authority; and Michael Steven, President-Director, Kresna Securities.

Chapter | The Guide Indo from The Report: Indonesia 2015

This chapter contains useful information for visitors to Indonesia, including a listing of recommended hotels, phone numbers for foreign missions, chambers of commerce, national press, and other important contacts, as well as tips for etiquette, transport, and how to obtain an Indonesian visa.

Chapter | Insurance Indonesia from The Report: Indonesia 2015

Given Indonesia’s large population of nearly 220m – which is expanding by more than 1% per annum – its growing middle class and a GDP rising at about 6% a year, the insurance sector stands to benefit from these fundamentals in the years ahead. Overall insurance company assets increased by 14.5% in 2014, according to preliminary statistics from the Financial Services Authority (OJK), and total assets have more than doubled in the five years to 2014. However, even as insurers garner more business, there will be challenges for the OJK, as it works to achieve the right balance of regulation to ensure long-term sustainability without limiting growth or worrying investors. This chapter contains an interview with Rinaldi Mudahar, President-Director, Prudential Indonesia.