Indonesia is recognized for its strong comparative advantage in the fisheries and livestock sectors compared to other Southeast Asian countries. Bhima Yudhistira Adhinegara, Director of the Center of Economics and Law Studies (Celios), emphasized the potential of these sectors to significantly boost the economy. "Beyond fisheries, there are restorative economic opportunities in agroforestry and export-oriented plantations," Bhima told Kontan on Tuesday, 6 August. Bhima also highlighted Indonesia's competitive edge in tourism within Southeast Asia and the substantial potential for developing a green economy through renewable energy sources such as micro-hydro, wind, and solar power. "Celios studies project a positive economic impact of up to IDR 4,376 trillion on the national economy over the next 10 years," he stated.
In the 2024 World Competitiveness Ranking (WCR) by the International Institute for Management Development (IMD), Indonesia ranked third with a score of 71. Singapore secured the top spot with a perfect score of 100, followed by Thailand with a score of 72.5. Bhima believes that for Indonesia to become the leading country in Southeast Asia, the government must adjust several policies. These include shifting subsidies, incentives, and policy support towards export-oriented fish processing industries, restorative economies, and renewable energy. Bhima suggested that the government should create opportunities by attracting high-quality investments in sectors poised to become champions in Southeast Asia. "Furthermore, investment promotion must be more aggressive," he added.
