President Joko Widodo capitalized on Indonesia’s abundant nickel, coal, oil and gas reserves as he led Southeast Asia’s biggest economy through a decade of rapid growth and modernization that vastly expanded the country’s networks of roads and railways.
President Joko Widodo — who must step down after a second term due to a constitutional two-term limit — prioritized economic growth, welcoming foreign investments in manufacturing and other industries and building infrastructure such as the country’s first high-speed railway.
To speed up development of key industries, Widodo banned exports of certain raw commodities such as nickel and bauxite, which is used to make aluminum, obliging companies to build refineries to process and add value to what Indonesia sells to the rest of the world.
“As EV batteries need more than just nickel, Indonesia must engage with many countries, including those with internationally-oriented automotive industries,” said Arianto Patunru, an economist at Australian National University.
Baswedan has criticized them for neglecting local community needs and failing to grow suitable crops, pointing to the failure of cassava fields at a food estate in Kalimantan.
Many voters believe Indonesia needs a greener and more inclusive approach to growth, says Bhima Yudhistira Adhinegara, executive director of the Indonesia-based Center of Economic and Law Studies.
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