Why Indonesia Needs a Global Economic Forum of Its Own
- Noto Suoneto
- 4 days ago
- 5 min read
This article is inspired by two recurring reflections that continue to raise a fundamental question for me: why has Indonesia despite its size, influence, and potential long lacked a strong and consistent global narrative?
The first reflection comes from listening to Gita Wirjawan, who on numerous occasions has emphasized that Indonesia and more broadly Southeast Asia suffers from a deficit of global storytelling. Despite the richness of our history, the diversity of our societies, and the dynamism of our economies, our stories remain underrepresented and often misunderstood on the global stage.
Gita has argued persuasively that regions with far fewer assets have managed to shape compelling narratives about their future, while Southeast Asia has yet to fully articulate a clear, confident, and forward-looking voice that resonates internationally.
The second reflection emerges from my own experiences traveling across different countries and participating in major global forums and policy dialogues. Time and again, I return with two striking observations. First, many emerging economies have deliberately used the global forums they host as strategic platforms to project their national ambitions, showcasing their reform agendas, investment opportunities, and long-term development visions to the world. These events are not merely symbolic; they are carefully curated instruments of economic diplomacy and narrative-building.
Second, I have observed that even smaller countries, sometimes with far more limited economic prospects than Indonesia invest heavily in ensuring their voices are heard globally. Through persistence, consistency, and strategic communication, they crowd the global discourse with their ideas, initiatives, and aspirations. They understand that visibility matters, and that global relevance is not granted automatically by size or resources, but earned through sustained effort.
Taken together, these reflections underline a critical gap for Indonesia. Our challenge is not a lack of substance, ambition, or potential, but a lack of deliberate narrative-building. If Indonesia is to play a more influential role in shaping regional and global conversations, it must move beyond passive participation and begin actively telling its own story clearly, confidently, and consistently to the world.
The fundamental question, then, is what stories should Indonesia choose to tell the world and among the many, which ones truly matter?
Too often, Indonesia relies on what it assumes to be self-evident strengths: the size of its economy, its vast population, and its role as one of the world’s largest consumer markets. These attributes are frequently presented as the primary and sometimes the only reasons for foreign investors to pay attention. While market size remains an important factor, it is no longer sufficient in an increasingly competitive and discerning global investment environment.
The reality is that while many global stakeholders are broadly familiar with Indonesia’s geography, demographics, and consumer base, far fewer understand the depth and direction of its economic dynamism. Investors today want to know more than how big Indonesia is; they want clarity on where Indonesia is going.
They seek answers to questions such as: How is Indonesia preparing its talent for the future economy? How committed is the country to developing digital and physical technological infrastructure? How does regional autonomy enable local innovation and economic clusters to thrive? And how strong and predictable are competition policies and regulatory frameworks that ensure a fair and healthy business environment?
These factors increasingly shape investment decisions, especially for long-term, high-value capital. Equally important is how Indonesia’s domestic economic agenda aligns with its foreign economic policy including the direction of its regional engagement, multilateral partnerships, and strategic positioning amid global fragmentation. A coherent narrative that links domestic reforms with international economic diplomacy is essential if Indonesia is to be seen not merely as a large market, but as a credible long-term partner.
To convey this effectively, Indonesia needs more than fragmented messaging. It requires a global-level platform that can bring together policymakers, businesses, investors, and thought leaders to articulate these stories in a structured and compelling way. Such a forum would serve as a focal point for communicating Indonesia’s vision, priorities, and reform trajectory to the world.
There are clear precedents. China, for example, has used the Belt and Road Initiative since 2013 not only as a connectivity framework, but also as a sustained narrative platform. Through regular Belt and Road forums, China continuously engages regional and global partners, mobilizing capital, aligning interests, and reinforcing China’s long-term strategic presence.
Another relevant example is Singapore’s Bloomberg New Economy Forum, which has positioned itself as a high-level platform for discussing emerging trends shaping the global and regional economy. By convening political leaders, business executives, and global thought leaders, the forum goes beyond traditional economic discussions to address structural shifts such as technological transformation, sustainability, and the evolving nature of globalization.
In the Middle East, Saudi Arabia’s Future Investment Initiative (FII) has become a global stage to showcase the country’s transformation agenda under Vision 2030. The forum consistently communicates Saudi Arabia’s ambition to diversify beyond oil, attract global capital, and position itself as a central player in future industries.
Similarly, the United Arab Emirates has built multiple high-profile platforms such as the World Government Summit, Abu Dhabi Finance Week, and other major global investment forums to position itself as a regional and global financial hub. Despite geopolitical tensions in its surrounding region, the dominant narrative projected through these platforms is one of optimism, opportunity, and growth. As a result, global investors and high-net-worth individuals continue to pay close attention to the UAE’s trajectory. Similarly with Qatar, with its very prominent Qatar Economic Forum.
These examples underline a simple but powerful lesson: countries that shape the global conversation are those that tell their stories deliberately, consistently, and at scale. For Indonesia, the opportunity is not only to be seen, but to be understood on its own terms, and in line with its long-term aspirations.
For these reasons, the Indonesian Business Council (IBC) despite its relatively recent establishment in 2023 has taken the initiative to launch the Indonesia Economic Summit (IES). First convened last year, the Summit will continue this year with its second edition, reflecting IBC’s commitment to building a sustained global platform rather than a one-off event.
The Indonesia Economic Summit is designed to articulate both the current realities and future direction of Indonesia’s economic growth. Importantly, it seeks not only to reflect the government’s vision and policy priorities, but also to present the perspectives and aspirations of Indonesia’s private sector. By bringing these voices together, IES aims to project a more complete and credible narrative of Indonesia’s economy to the global audience.
Across its two editions, the Summit has centered on growth and prosperity as twin pillars of Indonesia’s development trajectory emphasizing that economic expansion must go hand in hand with broader improvements in welfare, opportunity, and inclusion. The upcoming Summit, to be held on 3–4 February, will engage global participants in addressing some of the most strategic and forward-looking questions facing Indonesia today.
These include fundamental issues such as: what economic model Indonesia is pursuing amid increasing global fragmentation; how public–private collaboration should evolve as the state takes on a more active role across key sectors; how Indonesia can preserve and enhance its competitiveness in an era of intensifying global business competition; how jobs can be created in the face of rapid technological change and the rise of artificial intelligence; and how the country should anticipate and manage mounting global economic and geopolitical risks. These discussions are intended not only to diagnose challenges, but to clarify Indonesia’s strategic choices and opportunities.
Through the Indonesia Economic Summit, IBC seeks to contribute to the creation of a global-scale forum that allows Indonesia to communicate its economic dynamism, reform agenda, and investment opportunities in a structured and compelling manner. More than showcasing size or potential, the Summit is about helping the world better understand Indonesia’s direction.
This article is written by Noto Suoneto, Founder of Foreign Policy Talks and Program Director of Indonesia Economic Summit (IES).
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