He acknowledges that infrastructure projects, by their very nature, will take time to gestate and see returns. Given Indonesia’s fragmented geography, the fact that things can be done is already an achievement.
SINGAPORE (Dec 27): Kelvin Tay, regional chief investment officer of UBS Wealth Management, is bullish that this coming decade will be one in which Indonesia will shine. “It might not seem very apparent right now, but Indonesia is primed to grow very strongly, and it will have political and economic repercussions for the entire region simply because, for the first time, they have their act together,” says Tay, in an interview with The Edge Singapore.
For one, public sector corruption is no longer as widespread. President Joko Widodo has helped rein in corruption since he came into power and will continue to do so with his re-election. “We’ve seen better governance all around, we’ve seen reconciliation in politics, we’ve seen the government willing to step in and moderate the influence of fundamentalists and, now, the government is actively spending on infrastructure,” says Tay.
