Indonesia is a giant country of Southeast Asia, representing 40% of the economy and the population of ASEAN. Indonesia is the region's only member of the G-20. Its size and remarkable economic growth is the reason of attraction for many investors. Like some companies from Korea and Japan where they have invested in the automotive sector in Indonesia.
Facing Covid-19, Indonesia Government has done many ways to overcome it. One of it is applying Large-Scale Social Restrictions. As PSBB has ended, Indonesia is now moving into the New Normal Period. In this period, people having activities should implement Health Protocols as recommended by the government.
Based on the results of Morgan Stanley's research entitled "Which Economy Emerges First on the Path to Recovery" compiled by the team of writers Deyi Tan, Zac Su, Jin Choi and Jonathan Cheung, it was predicted that Indonesia could quickly emerge from economic crisis. The reason is because Indonesia’s dependence on export is very small compared with other countries. Indonesia will become a country that will rise from the economic downturn in the second quarter.
In industry sectors, Indonesia will focus on infrastructure projects and also social programs which budget amounts is 97 million US dollars in a period of 5 years. This is how President Jokowi eager to save the Indonesian economy from adversity due to the Covid-19 pandemic. And it is expected that industry will develop rapidly in the period 2020-2024.
In addition, the government has vowed to continue the development of national strategic projects with the addition of 89 new projects of an estimated Rp 1.422 quadrillion in investment value. The new projects comprise 15 road and bridge projects, 13 dams and irrigation systems, 13 border infrastructure projects and 12 energy projects, 6 railway projects, 6 clean water projects, 5 airports, 5 seaports, 5 industrial zones, 3 technology projects, 3 smelters, one seawall, one waste management project and one land procurement project in Central Kalimantan. These projects will boost growth and demand from all rising industrial sectors including the automotive and fastener sectors.
The automotive and construction industries will be the driving force for the global industrial fastener market in 2021. The global industrial fasteners market will grow steadily during the next four years and post a CAGR of about 4% by 2020.
As stated by President Jokowi that even though Covid-19 exists, infrastructure development should continue. This statement is a good signal from the government for the national automotive industry. Recently, the export of automobile components has increased and reached 11,099,550 pieces, The greatest numbers are still more in the ASEAN region, followed by the Middle East and America Latin regions. This signifies the export of the automotive industry is still good, amid the COVID-19 pandemic.
This certainly brings fresh air for the Indonesian economy to quickly recover as before the pandemic.
INAFASTENER – The marketplace for Fastener and Fixing Industries Return in 2021
INAFASTENER, the trade show exclusively dedicated to fastener and fixing technologies return in 2021 which will be held on March 24 – 26, 2021 at Jakarta International Expo (JIEXPO) Kemayoran, Jakarta – Indonesia. INAFASTENER 2021 covers a wide product range of industrial fasteners and fixings, assembly and installation systems, storage and logistic services.
INAFASTENER is part of the INAPA show which targeted for the fastener and fixing industry. Both buyers and sellers can take this opportunity to network the potential buyers, learn and source new technology, to grow together with the industry and to reach new heights in business status.
The exhibition is co-locating with INAPA 2021, Truck & Trailer Indonesia 2021, CONMINE 2021, Tyre & Rubber Indonesia 2021, EV Indonesia, and INABIKE 2021 as the ASEAN's unparalleled one-stop platform for fastener, automotive, transportation and construction.
Fastener World's booth no. is to be determined.