Monday, 29 October 2018 – ISEAS – Yusof Ishak Institute invited Mr Sandiaga Salahuddin Uno, a prominent entrepreneur and political figure in Indonesia, to speak about the future of Indonesia’s economy. Mr Sandiaga shared his optimism regarding the country’s economy despite some challenges that the country currently facing.
Mr Sandiaga Salahuddin Uno is a prominent entrepreneur and political figure in Indonesia. (Credit: ISEAS – Yusof Ishak Institute)
The seminar was chaired by Mr Choi Shing Kwok, Director of ISEAS, who started the forum by introducing Mr Sandiaga’s profile to the audience. Mr Sandiaga was the Vice Governor of Jakarta and is currently running for vice president of the Republic of Indonesia 2019-2024, alongside presidential candidate, Mr Prabowo Subianto.
Mr Choi Shing Kwok, Director of ISEAS, chaired the seminar. (Credit: ISEAS – Yusof Ishak Institute)
Mr Sandiaga commenced his speech by sharing his experience living in Singapore for five years before the 1997 Asian Financial Crisis. As a successful businessman who survived from the crisis and built his own company from scratch, he believed that Indonesia would be future economic powerhouse. Mr Sandiaga cited Bloomberg’s projection that Indonesia would be the fourth largest economy by 2024 after China, India, and the United States.
Mr Sandiaga Salahuddin Uno during his presentation. (Credit: ISEAS – Yusof Ishak Institute)
Mr Sandiaga highlighted two current challenges faced by the economy; high food commodity prices and high unemployment. He believed that the government could do more to stabilise the commodity price and provide more job opportunities to its people. For this, the country needs to achieve higher economic growth. To accelerate growth, he suggested that some structural reforms are needed to attract more private sector participation in various aspects of development, such as in the energy and infrastructure sectors.
Around 140 people attended the seminar. (Credit: ISEAS – Yusof Ishak Institute)
The forum brought together around 140 attendees including academics, diplomats, finance and banking sector analysts, journalists, government officials, artists, and various company representatives. The audience engaged in a discussion on a wide variety of topics related to food prices, bureaucratic reform, the digital and creative economies, the renewable energy industry, Shariah economy, and Chinese investment.