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Spirethoughts

Spire's six most recent Spirethoughts.

Countries fight Covid-19 crisis with economic bailout packages
EU offers more market access to Vietnam
EU offers more market access to Vietnam
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The World Bank’s USD212 million Green loan for Vietnam
The World Bank’s USD212 million Green loan for Vietnam

Indonesia focuses on R&D as a key economic driver


Indonesia has made strong commitments to focus on R&D and plans to increase investments to 3% of its GDP. Indonesia will also be providing tax incentives, trade incentives and technical assistance to private, state-owned companies and cooperatives that will allocate a percentage of their profits to research purposes.

The government is encouraging the advent of R&D projects to improve ICT infrastructure, further develop telecom-based internet protocol and digital-based multimedia broadcasting.

Under the “President’s Initiative 1 – 747”, the government has also decided to allocate 1% of GDP for research, as well as 0.2% of GDP for R&D in the education sector.

What is to be seen now is whether Indonesia can successfully collaborate with R&D firms and attract fund inflows to further boost its R&D sector.

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