Indonesia is set to host the Forbes Global CEO Conference for a second time. The gathering will see business players and thought leaders from around the world discuss possible solutions to the continuous global economic slump.
Now in its 16th year, the conference will host at least 42 speakers and has received confirmation from 300 delegates who have been invited to come to the conference in Jakarta, a change of pace from the 2013 conference held in Bali.
Forbes Media chairman and chief editor Malcolm Stevenson “Steve” Forbes, Jr. said that Jakarta was chosen to host this year’s conference due to its continued growth even during the global economic slowdown.
The country’s sheer size and President Joko “Jokowi” Widodo’s efforts to establish economic reforms have caught the eye of business players from across the globe.
“Even though it’s facing some economic challenges with the collapse of commodity prices, Indonesia is still achieving higher growth rates than many of its neighbors. You have a president who is determined to make major economic reforms to unleash the potential of the Indonesian economy,” he told on Friday.
President Joko “Jokowi” Widodo has pushed for economic reforms and has issued 13 economic stimulus packages that aim to increase investment and nurture growth.
The economy grew 5.2 percent year-on-year (yoy) in the second quarter, beating average estimates of 5 percent from economists and Bank Indonesia’s (BI) forecast of 4.9 percent.
The growth domestic product (GDP) growth rate was higher than the 4.9 percent yoy reported in the first quarter and the 4.7 percent posted in the second quarter of 2015.
With the second quarter result, the economy has so far expanded by 5.04 percent this year.
However, despite positive-looking growth, experts have predicted that the official 5.2 percent growth target for the whole year may still be unattainable as the second quarter’s performance was largely due to a surge in consumption and production during the Ramadhan and Idul Fitri festivities, a trend that typically happens every year.
Meanwhile, not much is happening on the global stage. The World Bank has forecast that global growth will only reach 2.4 percent by the end of the year.
“So you look around the world and business leaders, whether with established companies or start-ups, they face very real headwinds,” Forbes said.
Mayapada Group owner Dato’ Sri Tahir said the conference was an important event to show off the economic reforms that Indonesia had made to cut costs and create a conducive investment environment.
“Through this platform, the President can explain to these 300 and more delegates about Indonesia’s future. This platform is
important to introduce Indonesia to the world and the world to Indonesia,” he said.
Mayapada Group is one of the sponsors of this year’s conference.
The conference, themed “Rising to the Challenge”, will feature distinguished Indonesian and international speakers.
They include Investment Coordinating Board (BKPM) chairman Thomas Lembong, CT Corp. chairman Chairul Tanjung, AirAsia Group chief Tony Fernandes and Ayala Corporation chairman and CEO Jaime Augusto Zobel de Ayala.
The conference will be held from Nov. 29 to Dec. 1.
