This is a great day for Indonesia's financial markets. Global credit rating agency Standard & Poor's (S&P) assigned investment grade status to Indonesia's sovereign rating, upgrading it from junk status, hence now being on par with the investment grade rating as assigned by the other leading credit rating agencies Fitch Ratings and Moody's Investors Service. The investment grade status from all three leading credit rating agencies should unlock a fresh flow of capital into Indonesia.

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Players in Indonesia's footwear industry are concerned about the sharp growth of imports of footwear (shoe) products into Indonesia, by far outpacing growth of footwear exports. Data released by the Indonesian Footwear Association (Aprisindo) show footwear imports into Indonesia rose 17 percent year-on-year (y/y) in 2016, while over the past two years exports of footwear products were recorded in the range of 3 - 4 percent (y/y).

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The Indonesian government prepared a number of new incentives to encourage investment in integrated sugar mills (which include sugar plantations). Through these incentives the Industry Ministry targets to attract four new investors in Indonesia's sugar industry each year. The two main schemes within its incentive package involve imports of raw sugar and tax breaks for imports of machines.

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The upstream oil and gas industry of Indonesia is plagued by companies' lack of interest in exploration amid low crude oil prices, their eagerness to focus on efficiency strategies, and Indonesia's difficult investment climate. At the 41st Indonesian Petroleum Association Convention and Exhibition in the Jakarta Convention Center on Wednesday (17/05) Christina Verchere, President Director of the Indonesia Petroleum Association (IPA), said low oil prices have been the main reason for reduced investment in oil and gas exploration since 2014.

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