WHY DO BUSINESS WITH INDONESIA AT THIS TIME?

Have you ever considered Indonesia as a business destination? Here's why you should consider Indonesia:

Business overview
Indonesia is a country of big numbers and big opportunity. With 252 million inhabitants it’s the world’s fourth most populous country and the largest in south east Asia. Indonesia has 18,307 islands, over 742 different languages and a middle class larger than the population of Malaysia or Australia.

Currently the 16th largest economy in the world, it is projected to be the seventh largest economy in the world by 2030.

Doing business in Indonesia takes patience and perseverance. Companies should be prepared to invest time and resources in regular visits over a period of months, sometimes years, before seeing returns.

Benefits for NIGERIAN  businesses exporting to Indonesia include:

*growing middle class
*strong domestic consumption
*largest economy in south east Asia

Strengths of the Indonesian market include:

Population increasing by 4.5 million a year
high proportion of working age people
abundance of natural resources
political stability following transition to democracy in 1998

Challenges Doing Business in Indonesia:

Foreign companies must be prepared to encounter challenges when doing business in Indonesia. It is the 101st easiest place to do business in the world according to the World Bank.

Businesses should be prepared for:

complex bureaucracy
uncertain and unpredictable legal and regulatory environment
lack of transparency
high logistics costs
poor infrastructure
business culture where companies will rarely respond to emails
strong business case less important than being a trusted partner
Indonesia offers a lot of opportunities for Nigerian  companies in a wide range of sectors.

However, companies looking for a ‘quick win’ would be advised to look elsewhere.

The rewards of doing business in Indonesia can be considerable. However it can take time to develop the necessary relationships before any financial returns materialise. Companies should recognise this and plan their business entry strategy accordingly.