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Cintasia

And the new President of Indonesia is …

< 2 min read –

Prabowo Subianto of course.

As you (may) know, he was already elected earlier this year in February 2024, in a third attempt in 10 years.

A few days ago, on October 20th, he was officially sworn in as Indonesia’s new president.

The Indonesian and global business communities largely agree that his presidency will bring continuity, growth, and stability, which is promising for business prospects.

A few more info on the new President:

Prabowo, now 73, has shifted his image from a controversial military figure with allegations of rights abuses to a charismatic leader backed by outgoing President Joko Widodo.

He emphasizes unity and aims to enhance Indonesia’s international role while fostering economic growth.

His tenure is likely to be scrutinized, especially regarding how he balances input from bureaucrats and his inner circle.

Among his ambitious goals, Prabowo aims for Indonesia to achieve self-reliance in food and energy within four to five years, leveraging the country’s abundant natural resources.

Education reform is also a priority, focusing on upgrading schools, training teachers, and ensuring equal opportunities for all students.

In his fight against corruption, Prabowo has committed to requiring cabinet members to sign an integrity pact, which will carry immediate consequences for any acts of corruption.

However, there is uncertainty surrounding the funding for his ambitious programs, with warnings that poor fiscal planning could lead to increased debt and higher taxes.

This concern is particularly relevant as his ambitions for economic growth have raised eyebrows among foreign investors regarding fiscal discipline.

Prabowo’s economic approach may blend state control with capitalist strategies, particularly focusing on resource downstreaming to address fiscal constraints.

In terms of foreign policy, he is expected to balance nationalism with the necessity of attracting foreign capital and technology, navigating relationships with both China and the United States.

While U.S.-Indonesian relations may face challenges due to Prabowo’s controversial past, strategic interests are likely to overshadow human rights concerns in ongoing diplomacy.

Overall, Prabowo’s presidency marks a pivotal moment for Indonesia as the nation seeks to navigate the legacies of its past while pursuing its future aspirations.

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PS : Do you know who is the gentleman in the painting behind Prabowo in the attached picture ? Put your guess in the LinkedIn comment and win the famous one and only ice-cold Cintasia Bintang !

Picture credit : Time magazine.

The Time wrote a nice 17-min read article on this subject last week. Write TIME in the LinkedIn comment or send us an email at bonjour@cintasia.com and we will send you the link.

Sources : Reuters, National Bureau of Asian Research