On 23 November 2016 Dutch Prime Minister Mark Rutte will become the first Dutch prime minister to address Indonesian parliament. It is rare for foreign political leaders to speak to Indonesian parliament. Rutte's speech is part of a four-day Dutch trade mission program to Indonesia. Mark Rutte is accompanied by Foreign Trade and Development Cooperation Minister Lilianne Ploumen, Infrastructure and the Environment Minister Melanie Schultz van Haegen and Environment Minister Sharon Dijksma. In recent years the Netherlands and Indonesia have both been eager to enhance bilateral relations.
11 October 2019 (closed)
USD/IDR (14,140) +14.00 +0.10%
EUR/IDR (15,591) +14.03 +0.09%
Jakarta Composite Index (6,105.80) +82.16 +1.36%
Richard van der Schaar is an academically-trained Indonesia expert with a decade-plus focus on - and experience in - the Indonesian economy and business (trade and investment). With comprehensive knowledge about Indonesia's investment climate and the 'way of doing business' in Indonesia (including the cultural aspects) as well as having a wide network to rely on, he guides and assists foreign investors in achieving their investment ambitions in Indonesia. The combination of having (1) academic expertise on Indonesian cultures, societies and histories, and (2) expertise on - and experience in - Indonesia's investment climate and business culture is a very valuable and complementary combination to achieve positive results.
Has been fascinated by Indonesian cultures and history since the very first time he stepped foot on Indonesian soil in mid-1998, just one month after Indonesia's second president, Suharto, stepped down from office at a time when the Asian Crisis ravaged through the country. He decided to do his Bachelor and Masters degrees in Southeast Asian Studies at Leiden University (the Netherlands) with a major focus on Indonesian society, history and linguistics.
After successfully finishing his MA degree he temporarily taught Indonesian languages and cultures at the Volksuniversiteit in Rotterdam (the Netherlands), while increasingly becoming aware of the economic potential of Indonesia in a world where the economic gravity point was rapidly shifting to the East. With having had a profound training in Indonesia's macroeconomic history at university, he started to delve into the contemporary economic conditions of the country and through frequent visits to Indonesia established a network within businesses and government circles. Since 2013 he has been permanently based in Jakarta.
"One of the most important aspects of doing business in Indonesia is to comprehend Indonesia's culture of business"
|Private Investment Company|
|Expertise||Investment & Business Strategies | Investment & Business Environment | Macroeconomics & Politics | Cultural Studies|
Columns of R.M.A. van der Schaar
Asian stocks, including Indonesia's benchmark Jakarta Composite Index, continue their persistent slide on Friday (04/11) ahead of the US presidential election on Tuesday 8 November 2016. By 10:45 am local Jakarta time, Indonesian stocks were down 0.29 percent to 5,314.00 points, while the rupiah had depreciated 0.14 percent to IDR 13,093 per US dollar (Bloomberg Dollar Index). Besides the too-close-to-call US election, investors are also keeping an eye on the mass demonstration in Jakarta today.
Despite being a hot topic in Indonesia since the start of the year, we ignored the murder case of Mirna Salihin. However, we decided to devote one article on the topic because on Thursday (27/10) Mirna's friend, 27-year old Jessica Kumala Wongso, was sentenced to 20 years in prison having been found guilty - by the Central Jakarta District Court - of murdering Mirna by putting cyanide in her Vietnamese iced coffee. The whole case and trial bear resemblance to the O.J. Simpson murder case in Los Angeles (USA) in 1995 in terms of public attention and media coverage.
After two years in office, the time is ripe now to take a look at the performance and accomplishments of the government under the leadership of Joko Widodo, often called Jokowi. Indonesia's seventh president was a bit unlucky. In the first year of his rule, commodity prices were at multi-year lows (curbing Indonesia's foreign exchange earnings) amid sluggish global economic growth, while capital outflows from Indonesia occurred on the back of monetary tightening in the USA, sending the rupiah to a 17-year low in September 2015.
Indonesia's tax revenue realization in the first half of 2016 was disappointing. According to the latest data, Southeast Asia's largest economy collected a total of IDR 518.4 trillion (approx. USD $39.6 billion) worth of tax revenue (including customs and excise) in the first six months of 2016, down 3.3 percent (y/y) from tax revenue realization in the same period one year earlier, and only 33.7 percent of total targeted tax revenue (IDR 1,539.2 trillion) set in the revised 2016 State Budget. The disappointing performance is mainly due to weak tax income from the oil and gas sector.