Indonesia has become a spotlight after several world technology giants invested in the country, most of which spent funds for large startups and data center construction.
The government is aggressively pushing for the completion of various trade agreements. In mid-November, 15 Asia Pacific countries, including Indonesia, signed mega-free trade cooperation, Regional Comprehensive Economic Partnership (RCEP).
A huge investment in the digital sector is pouring amidst a depressed economy. Most recently, Bukalapak is reported to have received a new investment of US$2-3 billion or Rp 28-42 trillion from a group of investors, including Emtek, GIC, and Microsoft.
Indonesia broke two different records on September 3: daily confirmed COVID-19 cases and deaths, at 3,622 and 13, respectively. Meanwhile, Jakarta, the worst-affected region and epicenter of the disease, recorded the highest number of daily new infections
The economic contraction trends expanded in almost all countries in the first half of this year, including Indonesia. The government is eyeing to reverse the downtrend in the third quarter of 2020, targeting a full-year economic growth of 0.5-1 percent.
Indonesian companies and enterprises are struggling to keep their businesses to stay afloat since the Covid-19 spread does not seem to slow down.
The coronavirus outbreak, originated from China, is finally infecting the Indonesian economy.
The administration has issued many policies along with its controversies. Although the government "controls" almost all political parties, the social and political dynamics of each policy may not subside.
The Chinese government is giving full efforts to contain the novel coronavirus (2019-nCoV), which was first identified in Wuhan, the capital of Hubei Province.
In 2020, the cost of living in Indonesia will get even higher, following the implementation of several tariff increases set by the government, from cigarette excise, toll tariff rate, to the premiums of BPJS Kesehatan.