On July 9, over 180 million Indonesians will go to the polls to elect their next president for a five-year term, after a decade of steady—albeit recently slowing—growth under outgoing President Yudhoyono. The two candidates on the ballot, Joko Widodo and Prabowo Subianto, both emphasize economic sovereignty. What does this mean for future policy and the prospects for economic reform in Indonesia? Is Indonesia closing the door to foreign investors?
James Castle examined the likely trajectory of the Indonesian economy under new leadership. Carnegie’s Vikram Nehru moderated.
James Castle is founder and CEO of CastleAsia, the largest and most prestigious CEO forum in Indonesia. In over thirty years of work in Southeast Asia, Castle has advised in the establishment of numerous foreign direct investment projects and has acted as a consultant to regional governments and many of the world’s largest corporations.
Vikram Nehru is a senior associate in the Carnegie Asia Program. An expert on development economics, growth, poverty reduction, debt sustainability, governance, and the performance and prospects of East Asia, his research focuses on the economic, political, and strategic issues confronting Asia, particularly Southeast Asia.