Indonesia: Innovation Is Key for The Country’s Future
February 24, 2013 Leave a comment
Editorial: Innovation Is Key for The Country’s Future
February 20, 2013
In today’s highly competitive business environment, innovation is crucial for getting ahead and staying ahead. Indonesia has done well economically in recent years, but it has lacked a real drive to push its research and development to the next level.
It is in this light that we must view the $300 million investment by US multinational conglomerate General Electric. By announcing that it will build a human resources development center and infrastructure facilities and establish a rural health care program in Indonesia, GE has shown a firm commitment to this country.
GE chairman and chief executive Jeff Immelt, who was in Jakarta on Tuesday, noted that over the past two years the company’s business has grown strongly in Indonesia, one of the world’s most rapidly expanding economies.
“We see a great opportunity to support the country in energy and health infrastructure technology development and its human resources for sustainable economic growth,” Immelt said.
It is absolutely necessary for Indonesia to attract this kind of investment if it wants to climb up the value chain.
By increasing its innovation, the country will be better able to compete in the global arena. More importantly, it will help raise living standards across the archipelago.
Indonesia must encourage greater innovation within its corporate sector and its services industries. By pioneering research in health care, for example, it may produce new drugs that can save countless lives or develop new medical equipment that can detect illnesses.
General Electric has long been a leader in this field, and it is heartening to hear the company speak of investing in innovation and a human capital development center. Such facilities will put the country in good stead for many years to come.
Indonesian companies should follow suit.
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