News & Press

Taiwan Expo in Indonesia to Return to Jakarta in May

2024/02/01

Taiwan Expo 2024 in Indonesia, organized by the International Trade Administration, Ministry of Economic Affairs and executed by the Taiwan External Trade Development Council (TAITRA), will return to Jakarta from May 16–18 this year after four years of absence. Indonesia is the largest economy with the largest population and the largest halal market among ASEAN members. Its GDP growth rate has been maintained at above 5% in recent years, which is higher than the global average. Recognizing the continued economic momentum of Indonesia and its domestic market of 278 million people having immense potential, TAITRA has called on Taiwanese companies to participate in the Taiwan Expo, forming a "national team" to showcase Taiwan's exceptional soft and hard technology capabilities to Indonesian industries, as well as political and business spheres, seeking collaboration opportunities.


The Taiwan Expo 2024 in Indonesia, based on the latest Indonesian policies, local market demands, and consumer trends, will focus on five major exhibition themes: Smart Manufacturing, Smart Healthcare, Green Sustainability, Halal, and Smart Lifestyle. During the exhibition period, there will also be business matching events, forums, seminars, and other business exchange activities held to serve as comprehensive business platforms for Taiwanese companies, connecting exhibitors from Taiwan with medium to large-scale buyers and government projects in Indonesia and assisting Taiwanese businesses with seizing business opportunities.


In recent years, there has been a rapid increase in demand for smart manufacturing in Indonesia. Following President Joko Widodo's introduction of its economic policy, Indonesia’s Industry 4.0, the country has actively sought collaboration with multiple nations, aiming to transition Indonesia from traditional industrial manufacturing to green manufacturing with a goal of ranking among the world's top ten economies by 2030. In addition, the uninterrupted growth of Indonesia's Purchasing Managers' Index (PMI) in the manufacturing sector for 28 consecutive months certainly indicates significant potential for demand in smart manufacturing equipment. In smart healthcare, the pandemic along with AI has catalyzed the development of smart healthcare in Indonesia. In response to healthcare demands driven by the emerging middle class, Indonesia has relaxed restrictions on foreign investment in medical facilities and opened up registration for medical equipment in recent years. This presents an opportunity for Taiwanese healthcare service providers and medical equipment companies to explore and expand their market presence.


To achieve its carbon reduction goals, Indonesia has been progressively announcing policies related to sustainable development. It actively promotes the development of electric vehicles and is gradually establishing a national green industry to drive demand in the domestic green market. With abundant nickel resources, Indonesia is actively promoting itse electric vehicle and battery industries. According to the Indonesian Ministry of Industry's plans, the production of four-wheeled electric vehicles nationwide in Indonesia is expected to reach 400,000 units by 2025, while the production of two-wheeled and three-wheeled electric vehicles is projected to reach 6 million units. This demonstrates the immense potential for the development of the electric vehicle industry in Indonesia.


As the most populous country in ASEAN and home to the world's largest Muslim population, Indonesia has a youthful population and purchasing power. There is a growing trend in consumer preferences towards green environmental protection, smart AIoT, healthy lifestyle, delicious fashion, and personal presentation. Taiwan Expo in Indonesia is a great opportunity for Taiwanese companies to seize the demographic dividend of Indonesia and the enormous business opportunities brought about by the surge in the middle class by gaining first-hand market feedback and expanding their business networks.


 Source: Commercial Times www.ctee.com.tw/news/20240123700935-430702

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