Mr. Mahendra Siregar, Vice Minister for Trade, Republic of Indonesia, kicked off Nielsen’s inaugural Consumer 360 Conference in Jakarta on October 19, 2010 with a positive outlook for Indonesia in his keynote address. Before his address, Mr. Siregar welcomed Nielsen’s efforts to bring together industry experts to share insights and put the spotlight on focusing on consumers’ needs.
The Vice Minister’s address heralded a host of good news for businesses operating in Indonesia, which now has “increased importance in the world,” he said. The Indonesian GDP is expected to grow at a conservative rate of 5.9 percent in 2010, up from 4.5 percent in 2009. According to Mr. Siregar, this growth will be led by exports and investments, which are the “more sustainable pillars of growth” compared to government consumption/spending. In August 2010, non-oil and gas exports hit a record high for the country.
Mr. Siregar singled out Indonesia’s ranking in the 2010-2011 Global Competitiveness Index released by the World Economic Forum. Indonesia’s ranking moved significantly up 10 spots to 44th place, up from 54th place in the 2009-2010 Index, underscoring the country’s resilience amidst challenging economic conditions.
As a precursor for more positive developments in the future, Mr. Siregar informed the audience that in five months, GDP per capita in the country is likely to hit $3,000, a level at which economic growth can be expected to accelerate.
Mr. Siregar outlined the Trade Ministry’s three priority strategies:
- Trade: sustain market and product diversification, promote value-added products, improve product competitiveness.
- Investment: improve investment climate by simplifying and integrating procedures. Recent initiatives include leveraging technology to accelerate application processes, and BKPM (Investment Coordinating Board of the Republic of Indonesia) now acting as a “one-stop shop” to issue investment permits within seven days.
- National Competitiveness: improve the interconnectivity between islands, intra-island and internationally through logistics, transport and regional developments.
Nielsen’s inaugural Consumer 360 Conference in Jakarta brought together industry and Nielsen experts to share the most innovative and insightful views of the consumer. The conference in Jakarta was themed ”Capturing the Consumers’ Minds”, and more than 300 guests from a broad range of industries including Fast-Moving Consumer Goods (FMCG), Retail, Media, Telecommunications, Pharmaceutical and Social Media participated.
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