Indonesia's Business Competition Increased in 2024, but Remains Insufficiently High

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Adi Ahdiat 24/01/2025 14:13 WIB

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According to reports from the KPPU and CEDS, Indonesia's business competition index increased in 2024. However, the competition is still not high enough to support 8% economic growth.

Indonesia Business Competitiveness Index (2018-2024)

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Indonesia Business Competitiveness Index (2018-2024)

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Business competition in Indonesia increased in 2024. However, the competition is not yet high enough to support 8% economic growth.

This is evident from the Business Competition Index report compiled by the Business Competition Supervisory Commission (KPPU) together with the Center for Economics and Development Studies, Padjadjaran University (CEDS Unpad).

KPPU and CEDS Unpad measured business competition through a survey of stakeholders from 15 national economic sectors.

The survey was conducted in 34 provinces, with respondents representing various institutions such as the Chamber of Commerce and Industry, academics, Bank Indonesia, and Provincial Industry and Trade Offices.

The survey results were then analyzed and formulated into a score on a scale of 1-7. A score of 1 indicates a very low level of competition, while a score of 7 indicates very high competition.

In 2024, Indonesia's business competition index reached 4.95, categorized as "competition towards high".

KPPU stated that business competition in 2024 was not yet optimal due to remaining barriers to market access, potential cartels and collusion, and a decline in research, productivity, and innovation.

The business sectors with the lowest competition, or those tending towards monopolies/unhealthy competition, are the energy, mining, water supply and waste management, and construction sectors.

According to Prof. Maman Setiawan from CEDS Unpad, the business competition index needs to be increased to 6.33 to support 8% national economic growth.

"So, from this year's business competition index figure, an increase of 1.38 points or about 28% is still needed to achieve the 8% national economic growth target," said Prof. Maman in a press release on Tuesday (7/1/2025).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's Business Competition Increased in 2024, but Remains Insufficiently High

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