Indonesia’s Bold Economic Vision Takes Center Stage
The 2025 Forbes Global CEO Conference in Jakarta became a platform for Indonesia to showcase its ambitious economic agenda, with President Prabowo Subianto confidently asserting that 8% GDP growth is “very achievable” through strategic domestic initiatives. The centerpiece of this growth strategy is a massive free meal program targeting school children and pregnant women, with the government allocating 335 trillion rupiah ($20 billion) to what President Prabowo describes as both a social welfare initiative and economic stimulus.
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“Every $1 spent on the free meal program would result in returns of between $5 to $7,” President Prabowo revealed during his conversation with Steve Forbes. The program aims to feed approximately 83 million school children daily while potentially creating 1.5 million jobs, demonstrating how social welfare and economic growth can be strategically intertwined.
Global Business Icons Honored and Share Insights
The conference celebrated lifetime achievements while looking toward future challenges, with Tadashi Yanai, founder of Fast Retailing (parent company of Uniqlo), receiving the prestigious Malcolm S. Forbes Lifetime Achievement Award. Steve Forbes praised Yanai for reshaping global apparel and redefining how clothing companies operate, building from a single menswear shop into one of the world’s leading apparel retailers known for simplicity, quality, and affordability.
Yanai expressed profound honor at receiving the award, noting it has been “the symbol of success in the global business world.” His recognition highlighted the conference’s theme of enduring business excellence amid global economic shifts., according to technology trends
Structural Reforms and Technological Transformation
Indonesia’s Investment Minister Rosan Perkasa Roeslani unveiled ambitious plans to rationalize the country’s state-owned enterprise sector, reducing the number from over 1,000 to 200 entities. “The goal is to improve efficiency and enhance economic growth,” Roeslani stated, emphasizing that SOEs account for up to 50% of the country’s GDP, making this restructuring crucial for nationwide socio-economic impact.
The government also plans to leverage AI and robotics to boost productivity while upskilling Indonesia’s young workforce, whose median age of 30 presents both an opportunity and challenge for the nation’s development trajectory.
Global Trade Realignments and Strategic Responses
Steve Forbes used his Fact & Comment speech to address contemporary economic challenges, particularly criticizing the tariff policies announced by U.S. President Donald Trump. “Tariffs are like a wedge between producers and consumers,” Forbes asserted, warning they would hurt margins, productivity, and economic advancement while creating market uncertainty.
Despite his criticism of tariffs, Forbes acknowledged the Trump administration’s efforts to reduce regulatory burdens on American industry. He also highlighted the growing threat of global debt, which has reached an unprecedented $320 trillion, cautioning that “in a low-growth environment, it is just asking for trouble.”
Sector-Specific Strategies for Uncertain Times
Business leaders across industries shared their approaches to navigating current economic challenges:, as related article
- Anthony Capuano of Marriott International emphasized maintaining human connection despite AI advancement: “The unique challenge for us is to remind ourselves that we are a human connection business.”
- Tony Fernandes of Capital A highlighted resilience as the key differentiator: “You either capitulate or innovate. The key word during a difficult period is resilience.”
- Joseph E. Aoun of Northeastern University identified the growing need for lifelong learning: “Universities have to start thinking of providing not just education for the 18 to 22, but also lifelong learning opportunities.”
- Jane Sun of Trip.com Group shared her counter-cyclical strategy: “During good times, we try to be very frugal. Then during hard times, that’s the time we can really support the customers while the others withdraw.”
Regional Perspectives on Global Challenges
Asian business leaders provided nuanced views on the shifting global economic landscape. Anindya N Bakrie of Indonesia Chamber of Commerce and Industry acknowledged that achieving 8% GDP growth would require time and international partnerships. Meanwhile, Ho Kwon Ping of Banyan Tree Holdings observed that despite their differences, both the U.S. and China have developed effective problem-solving approaches in their respective contexts.
The consensus emerging from the conference was that while global economic uncertainties persist, strategic partnerships, technological adaptation, and human-centered leadership remain the cornerstones of sustainable business success in the evolving global landscape.
For those interested in exploring the complete roster of distinguished speakers and their contributions, additional information is available through the official conference website.
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