Attended by local Indonesian and international financial writers the recent Journal of Financial Stability Conference was organized by PT HSBC Indonesia and the Putera Sampoerna Foundation.

According to Liputan 6, HSBC Indonesia's Head of Corporate Sustainability, Nuni Sutyoko explained that HSBC had decided to collaborate with the Putera Sampoerna Foundation to improve a culture of learning in Indonesia, as scientific papers published at an international level are an important indicator of a country's development and quality.

"Since 2015, HSBC has been working with Putera Sampoerna Foundation to initiate literacy and financial-banking programs," Nuni told local news wires in Kuta. 

The Project Manager of HSBC-Putera Sampoerna Foundation Cooperation Program, Wahyoe Soedarmono hoped the steps taken by the institution would be able to contribute to solutions of economic problems facing the world.

Based on data from Indonesia's Ministry of Research, Technology and Higher Education (Kemenristekdikti), more than 9,300 international scientific publications from Indonesia were indexed globally through to July 2017, up from around 4,000 in 2016, which is more than any other ASEAN country. Next year, Kemenriatekdikti is hoping Indonesia will publish around 30,000 scientific publications in international scientific journals. 

Managing Editor of The Journal of Financial Stability, Prof. Iftekhar Hasan said "there are many credible results from Indonesia, particularly in maintaining domestic financial stability and these research results are important for cross-country scholars with their insights and knowledge."

These results are not just scholalrly works however, as they also highlight the efforts being made by the government to develop Indonesia's economy through stability, transparency and reforms, all of which are significant contributors to improving Indonesia's investment climate. Even though there is still a lot of work to do, The World Bank and institutions such as Standard & Poor's recognize the positive steps being taken. The World Bank's 2018 Ease of Doing Business (EODB) index, for example, lifted Indonesia's rank 19 places from its 2017 position.

Source: Liputan 6, Antara News, The Jakarta Post, The World Bank

Similar to this:

Bali's property market is back on track amid economic optimism

Indonesian President announces new business registration regulations

A growing trend in Bali's property space