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Ellipse Projects, EU and UK: Foreign direct investment puts Indonesia on track for Covid recovery

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Image: Widodo via Flickr.

Indonesia has seen a sharp rise in foreign direct investment (FDI) to the tune of 14% in the first three months of 2021. FDI in the country now stands at 111.7 trillion rupees (7.72 billion dollars), or an increase of almost 5% over last year’s figures. In fact, Indonesia is one of the new emerging powers in Southeast Asia, along with PwC, to predict it will become the world’s fourth-largest economy in 2050, behind China, India and the United States. According to the World Bank, the country has experienced a GDP Rate of growth by 5% in 2019, with a domestic market of more 270 million people, 70 million of whom belong to the middle class.

But this is by no means the first time that foreign investors have noticed the Indonesian archipelago. the growth oriented The government of President Joko Widodos has pursued a policy of economic openness and deregulation since its election in 2014. The 2020 all the law made investing in the country even easier by setting out a list of encouraged investments. While China remains among the country’s top five investors, Indonesia has nonetheless managed to maintain what one political commentator has called dynamic balance of geopolitical power in his books.

Ellipse Projects and the national television network

As one of the world’s largest archipelagos – with two-thirds of its surface covered in water, 95,000 kilometers of coastline and over 17,000 different islands – digital expansion can be difficult. In 2014, the Indonesian government requested outside assistance to renovate its terrestrial analogue television broadcasting infrastructure. French society Ellipse projects ultimately won the tender for a concessional loan from the French Ministry of the Economy and Finance. Ellipse projects fought fierce competition from Germany and Japan to win the contract with KOMINFO, the Indonesian Ministry of Communications and Information Technology, for 48 million euros.

As prime contractor, Ellipse Projects envisioned an overhaul of the national television network, consisting of the renovation and replacement of the antenna infrastructure, followed by the provision of television transmitters at 60 sites. The turnkey deployment was completed in mid-2017. Foreign investment was a crucial step in the digitization of Indonesia’s television transmission network in accordance with International Telecommunication Union (ITU) standards. Following the success of this previous investment from Ellipse Projects, President Joko Widodo recognized the benefits of promoting Western funding in Indonesian infrastructure.

UK and EU want Indonesia

Ellipse Projects The Indonesian success story has rubbed off on Brussels, which has since gradually strengthened bilateral relations with the country. From 2018 to 2023, a 10 million EU program called ARISE More provided technical support to ASEAN countries through economic integration. The EU is currently ratify the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA), which was delayed by Covid-19, but which will strengthen the results achieved through ARISE and allow a specific focus on Indonesia in the near future.

The UK, for whom Indonesia is a post-Brexit priority, is scrambling to gain a foothold with the EU. In 2020, they increased investments in the country of 35%. Then, in April this year, Westminster signed a Memorandum of Understanding (MoU) on the Joint Economic and Trade Committee (JETCO) between the Indonesian Minister for Trade and the UK Secretary of State for International Trade in April. The government has since allocated $ 4 billion in long-term competitive government funding to catalyze development initiatives in Indonesia. As the UK now operates outside EU rules, it will be well positioned to compete on trade tariffs and more targeted measures in the country’s digital sector – from e-commerce to technological innovation – and the renewable energy sector to reverse the country. addiction on coal.

Indonesia’s recent success in securing foreign investment is a positive sign that international confidence in the country’s economy is growing. The head of the BKPM investment council, Bahlil Lahadalia, nodded that the recent inflows of FDI demonstrate the world’s confidence in Indonesia and that the activities of foreign investors have started to normalize and adapt with the development of the Covid-19 pandemic. Early investments such as the restructuring of Ellipse Projects television have helped Indonesia be recognized as a good environment for foreign investors and will help the country recover quickly from the impact of Covid-19.

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