Indonesia matters for Australia, vice versa. Indonesia is an emerging economy and is projected to be one of five largest economy by 2050 (The Economist Intelligence Unit, 2015). In the future, Indonesia is critical for Australia. Therefore, it is important for Australia to forge new business prospects with Indonesia, especially in the face of Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), and to strengthen initiatives and cooperation in education, energy, healthcare, tourism, and people-to-people connections in technology and innovation (Austrade, 2020; DFAT, 2017).
WHY INDONESIA MATTERS FOR AUSTRALIA
- Persistent economic growth and growing middle class. Indonesia’s economy has been driven consistently by household consumption. The World Bank (2020) asserts that the expanding middle class and their consumption have contributed significantly to the economic growth. Thus, the nation is a huge market for Australian businesses to expand its high value-added products and services.
- Demand for energy. The economic growth requires on-going development in the energy sectors. The roadmap of energy mix in Indonesia is an opportunity for Australia to invest in renewable energy.
- Healthcare system. Indonesia commenced the Universal Health Care System (BPJS) in 2014. The implementation of this program requires development and enhancement in the medical and pharmaceutical services. Australia, as one of leading nations in healthcare system, has the capacity to assist Indonesia in improving its system.
- Vocational and high-degree education. Thousands of Indonesians pursue their high-degree education in Australia. However, compared to other nations like China, India, and Malaysia, the proportion of Indonesian students is relatively low. Growing young age group in Indonesia in the next two-decades represents opportunities for Australia to expand its education sector. This includes opening campuses in Indonesia, enabled by IA-CEPA.
WHAT WE OFFER
Experts at Heights Research have unique knowledge of Australia’s educational sector, regulatory energy market, healthcare system as well as business and economy issues between the two countries.
With our knowledge, we can bridge stakeholders in both countries by assisting businesses and government in improving strategic trade and investment relations and policy implementations.