Indonesia’s Incomplete Industrial Strategy
Indonesia’s industrial strategy is well-intentioned, but incomplete, as most of its components will do little more than attract traditional foreign direct investment. While this might elevate and strengthen local value chains, it would also leave them under foreign control.
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SEOUL/JAKARTA – Industrial policy has come back into vogue in recent years. But simply reviving old approaches will not be enough to achieve the outcomes countries are seeking, especially within an increasingly high-tech global economy. Indonesia is a case in point.