[splco_heading size=”15″ align=”left” margin=”30″]Inspite having a better friendly relation with USA administration , Indian government failed to give initiative for US companies for swifter relocation during the pandemic era made Far East economy Indonesia on the front run[/splco_heading]
On one hand, when the coronavirus is proving itself as a nightmare to the whole world, on the other, it stood as a stroke of luck for Indonesia according to local media in Indonesia
Ongoing trade war between China and the US is hitting daily headlines The Trump administration had already been working over the last few years to reduce US industries located in China which, ultimately, after the pandemic break out resulted as a success measure
In this scenario Trump decided to relocate around 27 US factories from China to Indonesia and many more to be added to the list after the president delegate an investment minister, Luhut Binsar Pandjaitan, to join hands with the US industries to corroborate that all the relocation was taken by Indonesia.
Indonesia allocated Brebes Industrial Park in Central Java, with around 4000 hectares land, being the biggest ground, becomes the relocation area for the US industries.
Indonesia highlights Huge manpower productivity, better and advanced infrastructure, large acres of land, bulky incentives, are some of the nuts and bolts that contribute to the swift running of industry for the newly migrated Industries
Jakaratha local policy times reported Weighty incentives along with freeing up land for 5years and holding direct talks with the US president and all the heads of US companies are some of the prominent ways taken by Indonesia, under the authority of President Joko Widodo, to succeed in seizing the multinational companies of the United States.
The conflict between the USA and China has greatly benefited Indonesia. Not only the US industries but also the companies of Europe and Japan are to go out of China and cut world supply chains from them.
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Bali beaches in Indonesia
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Indonesia is the world’s largest island country and the 14th largest country by land area, at 1,904,569 square kilometres (735,358 square miles).
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With over 267 million people, it is the world’s 4th most populous country as well as the most populous Muslim-majority country. Java, the world’s most populous island, is home to more than half of the country’s population.
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The name Indonesia derives from Greek Indos (Ἰνδός) and the word nesos (νῆσος), meaning “Indian islands”.
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Indonesia has a mixed economy in which both the private sector and government play vital roles.
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As the only G20 member state in Southeast Asia, the country has the largest economy in the region and is classified as a newly industrialised country.
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As of 2019, it is the world’s 16th largest economy by nominal GDP and 7th in terms of GDP at PPP, estimated to be US$1.100 trillion and US$3.740 trillion respectively. Per capita GDP in PPP is US$14,020, while nominal per capita GDP is US$4,120. The debt ratio to GDP is 29.2%.
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The services are the economy’s largest sector and account for 43.4% of GDP (2018), followed by industry (39.7%) and agriculture (12.8%).
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Since 2009, it has employed more people than other sectors, accounting for 47.7% of the total labour force, followed by agriculture (30.2%) and industry (21.9%).
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Indonesia maintains 132 diplomatic missions abroad, including 95 embassies. The country adheres to what it calls a “free and active” foreign policy, seeking a role in regional affairs in proportion to its size and location but avoiding involvement in conflicts among other countries.
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When Vietnam was chosen by some Chinese company for its closer geography to China and cheaper labour, Indonesia won the battle over the Southeast Asian countries by being the main destination for the relocation of US factories.
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Indian business community at large opines it is time for the BJP led Indian Government think tank Ponder over global business friendly policy matters rather pushing India ever indulge in divisive concentrative issues such as CAA , NRC, NPR , renaming PMNRF funds , non solving of its self created migrant issues , etc.,
