Indonesia Ranked 27th in the World in Global Competitiveness

Indonesia succeeded in making new history by ranking 27th in the ranking World Competitiveness Ranking (WCR) 2024 released by the International Institute for Management Development (IMD). This achievement is the best since Indonesia began taking part in the assessment in 1997. With a score of 71.52, Indonesia managed to climb seven places from 34th position in the previous year.

This achievement places Indonesia in third position in Southeast Asia, only behind Singapore (rank 1) and Thailand (rank 25). President Joko Widodo expressed his pride in this achievement, emphasizing that Indonesia's competitiveness is now above large countries such as the UK and Japan.

Improvement in Three Main Factors

In the WCR 2024 report, there are four main factors that determine the level of global competitiveness, where three of them show significant improvement for Indonesia:

1. Economic Performance (Economic Performance): Up 5 places to 24th position.
2. Government Efficiency (Government Efficiency): Up 8 places to 23rd position.
3. Business Efficiency (Business Efficiency): Up 6 places to 14th position.

However, there is a slight decrease in factors Infrastructure which is ranked 52, down one rank compared to the previous year.

Investor Confidence Increases

According to the Ministry of Investment/Investment Coordinating Board (BKPM), this surge is proof that the business climate in Indonesia is increasingly trusted by investors. Special Staff for Relations with Regions at the Ministry of Investment, Tina Talisa, emphasized that the various policies that have been implemented by the government under the leadership of President Joko Widodo have produced positive results, one of which is through increasing competitiveness.

Apart from that, the government also continues to be committed to strengthening national quality infrastructure to support the competitiveness of local products in the global market. Principal Secretary of the National Standardization Agency (BSN), Donny Purnomo, emphasized the importance of synergy in building quality infrastructure that can support sustainable economic growth.

Future Policy Direction

This achievement is an important basis for continuing to increase Indonesia's competitiveness in the international arena. It is hoped that this success can be maintained by the next government by strengthening infrastructure, improving the quality of human resources, and encouraging innovation and collaboration in various sectors.

Improved competitiveness opens up greater opportunities for Indonesia to attract foreign investment, strengthen the domestic economy, and make Indonesia a major player in the global market. This increase is also a strategic step towards Indonesia's vision as a developed country in 2045.