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Indonesia: Prudent Policy Mix, Infrastructure Investment, and Structural Reforms to Strengthen Resilience and Enhance Economic Growth

Indonesia’s economic prospects have been solid despite external headwinds, supported by a large-scale infrastructure investment program and the continuation of structural reforms, according to the 2019 Annual Consultation Report on Indonesia published by the ASEAN+3 Macroeconomic Research Office (AMRO) today.

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Embracing Technology and Investing in Infrastructure – ASEAN+3’s Path into the ‘New Economy’

Despite its disruptive effects, the ASEAN+3 economies can harness technology for job creation and sustainable economic growth. To successfully do so, regional economies need to create a technology-friendly ecology by investing in hard and soft infrastructure. This insight was shared by government officials, economists, and private sector representatives during a seminar entitled “Building Capacity and Connectivity for the New Economy in East Asia” co-organized by the ASEAN+3 Macroeconomic Research Office (AMRO) and the Bangko Sentral ng Pilipinas (BSP) on June 19 in Manila. This seminar is part of AMRO’s outreach program to introduce key findings of its flagship report, the ASEAN+3 Regional Economic Outlook (AREO) 2019, which is published in early May. It attracted an audience of 80 participants from both the public and private sectors.

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Challenges in Building Capacity for East Asia’s Transition to the “New Economy”

Our previous blog article discussed the key drivers of East Asia’s transformation from the conventional “manufacturing for exports” strategy to a more broad-based “new economy”, and considered some of the region’s efforts to strengthen its capacity and connectivity.

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ASEAN+3 Should Leverage on Complementarities and Embrace Technology to Sustain Growth in the New Economy

ASEAN+3 economies, after two decades of prospering with the “manufacturing-for-exports” strategy, should now focus on building capacity and connectivity to leverage on the Fourth Industrial Revolution in order to sustain growth in the new economy.

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