The world's “Biggest Invisible Country” — but for how long?

Just back from Jakarta and reflecting on what I wrote about Indonesia 10 years ago , here are my key takeaways. More information to be found in this longer trip report published on East Capital Group website.

Key takeaways:

• Underdeveloped stock market: Despite being the world’s fourth most populous country with abundant resources, Indonesia's stock market remains small and underdeveloped compared to its economic size and importance.
• Critical resources for energy transition: Indonesia holds vast reserves of key materials like nickel and cobalt, essential for the global energy transition, positioning it as a crucial player in the supply chain.
• Future capital and China's influence: Key discussions centered around the new capital city project, Nusantara, as well as Indonesia’s deepening relationship with China, particularly in infrastructure and investment.
• Shift in political focus: The new president will likely pivot towards demand-side policies, aiming to boost consumption—a key growth driver fueled by strong demographics—while scaling back on large-scale infrastructure projects.
• Rising global presence: Indonesia is poised to take a more prominent role on the global stage in the coming years, with growing influence in geopolitics and the global economy.