Sign up | Log in



Home  >>   Daily News  >>   Indonesia  News  >>   Economy  >>   Indonesia to be the next BRIC
NEWS UPDATES Asean Affairs        23  February 2011

Indonesia to be the next BRIC

Related Stories

February 21, 2011
Experts weigh in on Indo economic policy

February 12, 2011
A slippery slope in Indonesia

February 8, 2011
Indonesia hopes for private investment

February 5, 2011
Bank Indonesia raises interest rate

February 4, 2011
Fight against graft in Indonesia

February 1, 2011
Bank Indonesia urged to watch

Dismissing the findings of a global conference that Turkey would be the next to join the rising economic powers of Brazil, Russia, India and China, (BRIC) analysts said Indonesia had far more potential given its resources and population but needed reforms to stay in the running.

Some of Turkey’s backers cite its “strong growth and its geo-strategic importance at the crossroads of Europe and Asia.” Others say the nation could replace Russia, which was called a “one-trick pony” that had little to offer except its oil and mineral wealth.

Fauzi Ichsan, a senior economist at Standard Chartered, said Indonesia was a far better fit than Turkey. “Where else do global investors put their money in Asia after China and India? Indonesia has a domestic market power of [237 million]. It is a net commodity exporter,” he said.

Turkey, a nation of 70 million, has many similarities with Indonesia. Both are moderate Muslim majority states that escaped the global economic downturn. Both are oil and gas producers, although neither is self-sufficient. Turkey is expecting 4.5 percent growth this year, while Indonesia is eyeing a 6.5 percent expansion.

In an unrelated Standard Chartered Bank report this week, it said it was crucial for Indonesia to resolve obstacles to infrastructure development.

“The lack of trans-Java and trans-Sumatra highways, inadequate power supply and insufficient seaport facilities in the world’s biggest archipelago, has become the biggest impediment to foreign direct investment,” the report said, adding that these problems limited the nation’s growth to an average 5.1 percent over the last nine years.

Peter Fanning, the chairman of the International Business Chamber, said Indonesia’s political stability and strong economic fundamental made Indonesia an attractive investment destination. But he said complex bureaucracy was still the major complaint from investors

“Indonesia is going to progress. It is a relatively save place to invest. Growth could be so much better if [bureaucracy] did not stand in the way,” he said.

Indonesia moved a step closer to investment grade last month when Moody’s upgraded it sovereign debt rating to Ba1, within one notch of investment grade, with its Mediterranean rival one step behind at Ba2.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    23  February 2011 Subsribe Now !
• Asean 40 ETF fund targets Asean
Subcribe: Asean Affairs Global Magazine
• Asean brokers border conflict deal Asean Affairs Premium
• Cambodian garment benefit talks held
• Indonesia to be the next BRIC
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Lotte to build petrochemical project in Indonesia
• Malaysia, Turkey sign deals
• Philippines launches bond offering
• Excise tax increase troubles Thai automakers
Asean Analysis    23   February 2011 Advertise Your Brand
• Progress against dengue Sponsor Our Events
Asean Stock Watch    23  February 2011
• Buying Day in ASEAN
Global News Impacting Asia    17 November 2010
• Bank of America sees Asian inflation
• Lloyd’s increases insurance push in Malaysia
• Wells Fargo analyst on euro
• Obama’s visit to Asia

ASEAN NEWS UPDATES      Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand