Forbes Indonesia - March 2021

In this issue

The second phase of the Indonesian government’s vaccination drive has now been launched with the elderly and those in the public-facing workforce being prioritized. This includes hospitality and tourism related workers, a positive step to help the recovery in a sector which represented around 8% of GDP before the pandemic, but one which is still most dependent on the future relaxation of social distancing and travel restrictions. With between 12 and 15 months anticipated as required to complete the initial target of vaccinating around 182 million people, approximately 70% of the population, the need to couple this health drive with continued fiscal stimuli to ensure a smooth economic recovery is the challenge facing the government in 2021. It’s a situation not unique to Indonesia with several countries announcing in recent weeks, significant investments in measures similar to those announced here, where almost Rp700 trillion has been ear-marked in the current state budget to support Indonesia’s national economic recovery program. With Indonesia’s balance of trade remaining positive on the back of stronger exports, the rupiah stable, inflation low and consumer confidence showing signs of improving, Bank Indonesia last month also lowered by a further 25 basis points, its 7-day reverse repo rate to also help stimulate demand further.

Forbes 30 Under 30

MEET FORBES INDONESIA 30U30 2021! - The Forbes Indonesia 30 Under 30 Class of 2021 is an impressive list, showcasing top Indonesia's young entrepreneurs, artists, athletes, and philanthropists who manage to stay high spirited, maintain hard work, and see opportunity amid the challenging time. This time last year, Forbes Indonesia held an event to recognize the 30 Under 30 Class of 2020, when President Joko Widodo announced the first COVID-19 case in Indonesia. Not long after, the pandemic forced the world to adapt to what we call the new normal. The past year has put us in turmoil, many suffering from financial instability and losing their lost ones, but these young people featured on this year 30 Under 30 could provide us with optimism. We also noticed several trends in this year's list. First, the pandemic has accelerated the adoption of the internet and digitalization. Many in our list have taken advantage of what the internet has to grow their business and create awareness of what they are doing. Second, we see a significant trend in building a sustainable impact through their business and activism. Despite promising results are coming from the vaccine rollout, the pandemic is not over yet, and uncertainties remain. Thus, we hope our list could inspire other young Indonesians to stay positive and pursue their dreams.

10+ mins

DELIVERING THE FUTURE

V2INDONESIA reaffirms its commitment to delivering cutting-edge technology through its revamped logo and website.

2 mins

Bitcoin Is Not Money—Yet

Bitcoin is the new darling of investors. It has rocketed since March 2020 from $5,000 to over $40,000 before pulling back. Fans are predicting that it will resume its rise and head to $100,000 or higher.

4 mins

PROTECTING LEGACY

BUILD THE LEGACY AND INDULGE YOUR BUSINESS IN AN EASE OF FINANCIAL SERVICE AND EXCLUSIVE PRIVILEGES PROVIDED

1 min

You Won't Cut This Cable

Camino Winds—by John Grisham (Doubleday, $28.95). This novel by the foremost man of letters from Mississippi since William Faulkner takes up where a previous gripper, Camino Island (Bantam, 2017), left off. The most interesting character in both of these well-constructed, can’t-put-’emdowners is Bruce Cable, an independent bookstore owner. A lover of rare books and manuscripts and an imaginative and tireless marketer who takes delight in promoting promising writers and in doing all he can to make sure established authors sell multiple hundreds of their latest works at festive book signings and readings, Cable is a prodigious reader and man of high taste. He also has a rather roguish side that enables him to charmingly seduce attractive women. PC he is not.

2 mins

Corruption as Usual

Edward Omar Sharif Hiariej is a government official who does not mince words. The deputy minister of justice and human rights recently suggested that state prosecutors may demand capital punishment for the two former ministers recently apprehended by the antigraft body KPK. As the professor in law from the Yogya-based University of Gajah Mada sees it, under the current Corruption Law the death sentence is applicable to former ministers Edhy Prabowo (marine and fisheries) and Juliari Batubara (social services).

2 mins

Introduction to CI-EL

At the MarkPlus Conference 2021 event held by OMNI on 9-10 December 2020, we launched an ebook entitled CI-EL: Capabilities After COVID-19. This book is our answer to dealing with Volatility-UncertaintyComplexity-Ambiguity (VUCA) faced with DAMO (Discovery - Adventure - Momentum - Outlook).

2 mins

Beyond Payment

Interview with OVO CCO Rajiv Chandna on how the pandemic impacted the company and plans for going forward.

8 mins

An Uncertain Inheritance

Now that it is all over, it’s time for an honest and truthful appraisal of Donald Trump and the correlation between businessmen and politics in general.

2 mins

ROW, REST, AND REPEAT

James Allan on his experience rowing across the Atlantic in 42 days.

7 mins

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Forbes Indonesia Magazine Description:

Forbes Indonesia is a world-class business magazine of uncompromising quality and scope, providing insights and information to readers critical to their business and inspiring them to greater success