As one of the world`s 20 largest economies, Indonesia boasts a large pool of potential consumers, as well as a rapidly growing middle class, of great interest to both local businesses and foreign investors.
Jakarta (ANTARA News) - Since 2005, Indonesia has improved its score on each of the 12 pillars of competitiveness, according to Thierry Geiger, Senior Economist for the World Economic Forum, in the latest Indonesia Competitiveness Report 2011.

"As a result of these positive dynamics, Indonesia`s rank improved by 10 places, making it the most improved country among G20 countries over this period," he said in the report published here Wednesday.

The Indonesia Competitiveness Report 2011 is released, ahead of the 20th World Economic Forum on East Asia, which will take place in Jakarta for the first time, on June 12-13, 2011.

As one of the world`s 20 largest economies, Indonesia boasts a large pool of potential consumers, as well as a rapidly growing middle class, of great interest to both local businesses and foreign investors, he said.

However, much more must be done to improve Indonesia`s competitiveness and therefore fully reap the benefits of international trade, he added.

In addition, a more integrated ASEAN would offer opportunities for streamlined regional supply chains, while offering new channels of distribution.

He believed that as the 2011 Chair of the organization, Indonesia can play a catalytic role in the realization of the ASEAN Economic Community by 2015.

Following the Asian financial crisis and the end of Suharto's regime in 1998, Indonesia has embarked on an impressive growth trajectory and is poised to be-come an economic heavyweight very soon, the report said.

The nation is already the world`s 17th largest economy and the6th largest among developing countries.

Indonesia`s economy is also very dynamic, having grown at an annualized rate of 5 percent between 2001 and 2010.

The country has weathered the latest global economic crisis remarkably well and, in 2010, it was the third fastest-growing G20 country, according to the report. (T.SYS/A/F001/F001)

(ANTARA)

Editor: Ella Syafputri
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