Update COVID-19 in Indonesia: 24,538 confirmed infections, 1,496 deaths (28 May 2020)
28 May 2020 (closed)
USD/IDR (14,769) +8.00 +0.05%
EUR/IDR (16,275) +95.18 +0.59%
Jakarta Composite Index (4,716.19) +74.63 +1.61%
The political turmoil that has been plaguing Thailand since 2006 can become an advantage for Indonesia if the country manages to attract investors that were previously engaged in business or exploring business activities in Thailand. Although Indonesian politics are characterized by a certain level of uncertainty as well, particularly ahead of the upcoming July presidential election, the political situation is much more under control in Indonesia. Thailand, Singapore and Malaysia are Indonesia's greatest economic rivals in Southeast Asia.
Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Suryo Bambang Sulisto stated that Indonesia should take advantage of the current political turmoil in Thailand by attracting investors that were previously focused on Thailand. Now is right moment for Indonesia to make itself more attractive in order to attract these investors. If not, they may move their factories to Vietnam or the Philippines.