Its non-equity model allows founders to have full ownership of their ideas and products, and at the end of the program, they will get opportunities to meet VCs and CVCs
WeWork Labs has announced that it has launched SPACE-F, a foodtech startup incubator and accelerator in Thailand, in partnership with the National Innovation Agency (NIA), SET-listed Thai Union Group PCL, and Mahidol University’s Science Faculty.
SPACE-F is aimed at building a sustainable ecosystem to nurture foodtech startups in Thailand. It claims to be the first such initiative in the country and plans to provide services and support to empower the next generation of innovation in food tech.
The program will have two tracks: the Incubator track for initial-stage startups; and Accelerator track for growth stage startups (for both Thai and non-Thai nationals). It will accept applications until 31 July 2019.
Eligible applicant startups must propose innovation in one of the following areas: health and wellness; alternative proteins; smart manufacturing; packaging solution; novel food and ingredients; biomaterial and chemical; restaurant tech; food safety and quality; and smart food services.
The SPACE- F program will run for up to 15 months for Incubator and three to eight months for Accelerator. Its non-equity model allows founders to have full ownership of their ideas and products, and at the end of the program, founders will have opportunities to meet qualified investors including Thai Union Group PCL and other VCs and corporate VCs.
SPACE-F will be located at Mahidol University’s Faculty of Science and provides downtown lab access to high-tech machinery and instrumentation to facilitate the research and development of ideas.
“The time is ripe for foodtech advancements, and along with the perfect partners for this program, we are excited to select Thailand as the first stop to launch our partnered Food Labs program and help bring to life some of today’s brightest ideas right here in Thailand,” said Adrian Tan, Head of Labs, Southeast Asia for WeWork.
WeWork Labs recently debuted its Food Labs program, which is its first innovation space dedicated to powering the future of food and aims to support growing startups by bringing together entrepreneurs, industry experts, and investors to build a community to address the biggest challenges facing the global food industry.
As a bid to drive innovation and economic growth within the kingdom, startups attending the SPACE-F program can also apply for the SMART Visa program from the Thai government which provides numerous privileges to help attract skilled manpower.
There are going to be times when you feel completely unmotivated; so what should you do?
I’m not highly motivated.
I don’t have amazing willpower or self-control.
I don’t get up at 6 am to read, meditate, drink a green smoothie, and run 10 kilometres.
That’s because I don’t believe in motivation.
Instead, I’ve built systems and habits that remove my internal drive from the equation. So, whether or not I feel “motivated,” I can still be productive.
I realize that systems and habits are not a glamorous topic, but honestly, they work.
They’ve fuelled every step of my entrepreneurial journey over the last 12 years — from the early days, when JotForm was just a simple idea, to growing a team of over 110 employees who serve 3.7 million users.
Habits and systems have made it all possible.
If you create reliable systems and continue to improve these systems (instead of your willpower), you don’t even have to think about motivation.
Let’s break it down a little.
What the heck is motivation, anyway?
In the simplest terms, motivation is your desire to do something. It’s a sense of willingness that exists on a spectrum — from zero interest to a burning desire to take action.
When your desire is strong, motivation feels effortless.
But when you’re struggling, just about anything sounds better than starting the assignment, making a tough phone call, or hitting the gym. Procrastination takes over — until the agony becomes overwhelming.
“At some point, the pain of not doing it becomes greater than the pain of doing it.”
I love this quote because I suspect we’ve all felt this painful moment. That’s when it’s harder to stay on the couch than to get up, put on your sneakers, and go outside.
Extrinsic motivation is external. It’s money or praise or trying not to look clumsy on the tennis court.
Intrinsic motivation comes from within. It’s the desire to act, even when the only reward is the activity itself (or completing a task).
Intrinsic motivation implies that you’re acting for authentic, honorable reasons. For example, you start a business to help people or solve a problem — not because you’re dazzled by visions of fame and fortune.
Motivation gets in the way, though, when we rely too heavily on it.
No matter how much you love your business, there are probably moments when you don’t want to take action.
Maybe it feels scary or impossible, or the task at hand is downright boring.
That’s when systems can do the heavy lifting. Here are a few strategies that have helped me to build sustainable systems so I don’t have to rely on motivation.
1. Choose your focus areas — and ignore the rest
Focus and motivation might seem like two different topics, but they are closely intertwined.
Take me as an example. This year, I have 3 work priorities:
Hiring really great people;
Creating quality content;
Equipping our users to work more productively
These themes inform everything I do. If a project or an opportunity doesn’t fit into one of these three buckets, I say no. Distractions slip away and I can make real progress.
For example, I spend the first two hours of every workday writing out my thoughts. It might be a problem I’m trying to solve or a new idea. I don’t book meetings during this period and I definitely don’t answer emails.
But, if I arrive at work feeling less than inspired, I give myself permission to do something else — as long as it fits within my three focus areas. Instead of writing and problem-solving, I can read articles or books on these topics, meet with a product team, or watch a lecture.
All that thinking and exploring soon makes me feel more engaged. Once I’m engaged, I come up with better ideas. And good ideas inspire me to take action.
This process isn’t accidental. It’s a simple feedback loop I use to get moving on days when my brain feels stuck in neutral.
2. Remember that motivation is optional
In a 2016 article for The Cut, author Melissa Dahl shares,
The only motivational advice anyone has ever needed: You don’t have to feel like getting something done in order to actually get it done.“
Go back and read that again, if you want. I know I did. Let it sink in.
It’s surprisingly brilliant. Your feelings don’t have to match your actions — especially when you truly want to move forward.
You could feel tired, but still put on your goggles and go for a swim. You could feel like you’d rather staple yourself to the chair than build another PowerPoint deck — and you still get the presentation done.
Dahl also quotes Oliver Burkeman, author of The Antidote: Happiness for People Who Can’t Stand Positive Thinking, who writes:
“Who says you need to wait until you ‘feel like’ doing something in order to start doing it?
The problem, from this perspective, isn’t that you don’t feel motivated; it’s that you imagine you need to feel motivated.”
Once again, this is where routines can outsmart feelings. Sure, you might feel like watching cat videos, but every morning, you sit down at your computer and open a blank document.
You write for two hours (or whatever your routine entails) and you don’t bother taking your emotional temperature.
Progress ensues. Then you repeat, repeat, repeat.
3. Delegate whenever possible
The other day, I had a great idea during my morning workout. It was one of these eyebrow-raising lightbulb moments.
Unfortunately, it had nothing to do with my three focus areas I mentioned above. So, I made a note in my phone and asked our COO to follow my mental thread.
I was tempted to chase it myself, but I knew I had to stay focused.
I realize that delegation isn’t always possible, especially when you’re just starting out or money is tight. JotForm is a bootstrapped company.
But when it’s possible, delegation can pay off, big time. Offload an activity if:
You can regain precious time, energy or focus and apply it to something that will truly move the needle for you. That kind of work is priceless. Stretch yourself a little and measure the results. You can always test delegation in baby steps.
Someone else can do it better. In my case, there’s almost always someone on our team who has more knowledge or niche expertise than I do. They’ll create a stronger result in less time — and again, I don’t get distracted from my goals.
The importance of enjoying the ride
We’ve talked a lot about everyday motivation. But how do you sustain your drive for the long run?
It’s an important question. The answer will look a little different for everyone, but ultimately, we’re all motivated by joy and meaning.
Guardian columnist (and The Antidote author) Oliver Burkeman first led me to Buddhist teacher Susan Piver. Tired of forcing herself to be “good” and master the daily to-do list, Piver decided instead to focus on the pleasure of her work:
“Once I remembered that my motivation is rooted in genuine curiosity and my tasks are in complete alignment with who I am and want to be, my office suddenly seemed like a playground rather than a labor camp.”
She asked herself what would be fun to do and then focused on what she loved about each activity.
In the end, her day looked the same as it did when she was “disciplined” — but the experience was nearly effortless:
“Yes, discipline is critical, just like all the teachers say.
And there is definitely stuff that needs doing that is just never going to be fun, like paying bills and cleaning the cat box.
But I suggest that instead of being disciplined about hating on yourself to get things done, try being disciplined about remaining close to what brings you joy.”
Talk about a perspective shift. We all go through tough times, work at jobs we don’t love and endure genuine unfairness.
But if you’re struggling to do something you care deeply about, go easy on yourself.
Tap into why you started your business, or why you’re flexing your creative muscles in the first place. It’s a much happier way to move through your days.
To recap: establish your systems and habits. Stay focused on what matters. Delegate and tune out the noise. Your motivation will grow.
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SGX was a pilot partner during the development of Smartkarma’s corporate solutions service
Singapore Exchange (SGX) announced that it has invested an undisclosed amount into local investment research startup Smartkarma, as reported by Tech In Asia. Joining the round are Sequoia Capital India and Wavemaker Partners, both existing investors in Smartkarma.
SGX’s investment was a move to tap into the startup’s investment research network. Smartkarma is reportedly in the preparation to launch its corporate solutions, which include a range of services for C-suite and investor relations personnel of listed companies.
SGX was a pilot partner when the service was first being developed and will be the first exchange to bring the platform to all its listed and upcoming companies as well as global bond issuers.
With the investment and partnership, all companies listed on the exchange will be able to utilise Smartkarma’s network of independent analysts and investors.
Chan Kum Kong, Head of Research and Retail for SGX, said in a statement: “As SGX continues to uphold the standard and availability of research coverage through initiatives such as partnering with the Monetary Authority of Singapore on Grant for Equity Markets, we are also investing in new models to serve investors and companies now and in the future.”
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Go-Jek and LinkAja just announced a partnership, and we are excited to see where this is going
The Indonesian startup ecosystem has always been exciting to cover, but in 2018, things heated up when ride-hailing giant Go-Jek officially enabled the use of its e-wallet service for transactions with offline retailers.
As part of its move to compete with Lippo Group-backed OVO, which stood proudly on the side of its rival Grab, last year we began to see the e-wallet system being available for use in street food stalls and supermarkets.
To top it all off, earlier this year, TCASH –the e-wallet service runs by government-owned mobile operator Telkomsel– announced its rebrand into LinkAja as part of its strategy to compete with OVO and Go-Pay.
The greatest bit about this announcement? It involved the participation of at least five state-owned enterprises (SOEs) from the banking and telco sectors, signifying our entry to the next level of the war: It is no longer just a competition between two well-funded startups. SOEs want a piece of the cake, and they want it now!
But just when you thought you can finally sit down and watch the match with popcorn in your hand, today we woke up to another surprising announcement: That Go-Jek and LinkAja have set up a partnership that includes the addition of LinkAja as a payment option in Go-Jek’s main app.
Upon hearing this news, our Surabaya-based junior writer Prisca and I collectively nodded our heads in understanding.*
If you can’t beat ’em, sleep with ’em, we agreed.
Sleeping with the enemy has been the spirit of this competition ever since it was first noticed by the public. Battling Go-Pay and OVO would be an uphill battle for each of these SOEs; this is why it would be much better for them to forget their differences and team up. And today, we found out that they have reached out even further by pulling Go-Jek to their side.
This move made a lot of sense, especially since Nikkei Asia Review has written about industry players’ scepticism of the cartel’s ability to win against Go-Pay or OVO.
“I doubt they will be able to make decisions with the same speed as private companies. It will also be difficult for state-owned companies to burn cash [for promotions and discounts] on the same level,” one unnamed source reportedly said.
If anything, for the rest of us, this latest move reconfirmed just how powerful these tech companies are. In addition to their ability to reach out to customers, these tech companies are also run in the way that SOEs (and its subsidiaries) are not, enabling them to innovate at an unbelievable speed.
Despite running the national campaign to promote cashless payments, it seems like the Indonesian government is never the leading actor in its own feature film.
Sounds promising, and as a part of the startup ecosystem, we would definitely love to applaud that. But as the great philosopher Uncle Ben eloquently puts it: With great power comes great responsibility.
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*At least that is how I would like to imagine it. We are a remote team; we cannot really see what the others are doing in their respective cities.
LinkAja was formerly known as T Cash, a scan-and-pay service runs by government-owned mobile operator Telkomsel
LinkAja, the Indonesian government’s answer to Go-Jek’s e-wallet service Go-Pay, announced that it has collaborated with Go-Jek.
The partnership will see LinkAja payment option available on the digital payment extension of Go-Jek, as reported by Kumparan.
According to the companies, the feature will be available “soon” within this year.
“The collaboration is a follow-up of our commitment to being continuously present for Indonesian users of Go-Pay; all in one accord with LinkAja’s vision,” said Go-Jek President Andre Soelistyo.
Soelistyo further added that Go-Jek and Go-Pay will always be open to collaboration that is going to bring a positive impact to the public, especially the ones that will contribute greatly to Indonesian economic inclusivity.
A similar sentiment is also expressed by Go-Pay Managing Director Budi Gandasoebrata, who said that LinkAja, just like Go-Jek and Go-Pay, supports the acceleration of The National Cashless Movement (GNNT). It also aims to educate Indonesians about cashless payment.
“This collaboration can help accelerate the adoption of cashless payments, especially among the underserved market,” Gandasoebrata said.
LinkAja was officially launched on June 30, 2019 as the e-money product of Telkomsel and a total of seven state-owned enterprises.
LinkAja CEO Danu Wicaksana added that the ultimate goal of the service and collaboration is to increase financial inclusion by 75 per cent by the end of this year, as the government has targeted.
Just today, Go-Jek also revealed that it has received an undisclosed amount of investment from three entities of Mitsubishi into its ongoing Series F round.
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The new entity aims to build a global acceleration hub for startups in Johor region of Malaysia, while at the same time becoming the gateway to global expansion for Mongolian startups
START Mongolia and StartupJohor, the ecosystem developers in their respective regions, have merged together to form a unified brand.
Called START, the new entity aims to build a global acceleration hub for startups in Johor region of Malaysia, while at the same time becoming the gateway to global expansion for Mongolian startups.
The merger further expands the existing market reach for both parties. StartupJohor is based in Iskandar Malaysia, the southern economic development region of the Johor province of Malaysia. The city is strategically located beside Singapore and Indonesia that allows companies based within to have an easy access to the market opportunities in Malaysia, Singapore, Indonesia and southeast asian countries.
This strategic location, along with a relatively cost-effective environment compared to Singapore with a ready-built world-class infrastructure in Medini, Iskandar Puteri, will be a gateway for Mongolian startups to expand their operations to overseas market.
Furthermore, Mongolian distinct geographical location, and East European and Asian cultural mixture will be a gateway for Malaysian startups into central Asia. So, Mongolia’s location in between Russia and China will be a gateway to markets beyond Mongolia, eastern region of Russia and Stan countries.
In the future, START will showcase Mongolian and Malaysian startups to investors, synchronise their operations, best practices of ecosystem building and database platform comprises of the two ecosystem. On the innovation front, START will open tech-driven hubs and expand into corporate innovation programs.
The idea of merger became inevitable to each party when the hubs were promoting their startups overseas. So, given the potential for further ecosystem development and market reach, the new START brand will bring mutual benefits to startups in Mongolia and Malaysia in the area of market reach, product testing, operational synergy, investor and partnership diversification.
StartupJohor, established in 2014 and has dedicated in building startup and entrepreneurial ecosystem in southern region of Malaysia, has multiple signature programmes under its umbrella and incubates its startup companies in its five co-working offices in the southern region of Malaysia, Johor Bahru and Iskandar Puteri.
Similarly, START Mongolia, since its establishment in 2011 as Startup Mongolia NGO and WorkCentral Mongolia, is an ecosystem developer with community building programmes in startup community and track record in the corporate world. START Mongolia incubates companies with a global aim in its three co-working offices in Ulaanbaatar, and it has launched first co-working and incubator in Darkhan, the center for the northern region of Mongolia.
“In general, the markets in central asian region have had a limited exposure to the global startup ecosystem. However in Mongolia, the home-grown startups, given the high internet and smartphone usage and culture to adopt new technology, are altering the landscape intensively in this region. Tech and startup arena in Mongolia already have gave birth to home-grown fintech, martech, insurtech and blockchain startups. On the local stock exchange, number of microfinancing fintechs and blockchain tech companies have successfully raised funding through IPO,” said Zolboo Bayarsaikhan, CEO of START Mongolia.
“Many great companies are coming up from Johor Bahru. These companies have been acquired, raised substantial funding and on the path to IPO in the local stock exchange, and we are seeing a clear trend and movement that many best startup may not necessary coming out from first-tier cities such as Kuala Lumpur or Singapore. There is a rising amount of great companies from tier-two cities or even countries as well,” said Feng Lim, CEO of StartupJohor (now START Malaysia).
“Following to this changing landscape, the traditional business are keen to digitise their business operations, but in most industries, the tech solutions, and the corporate culture and structure to deal with the outcome are not readily available. This is where START Mongolia has the team, expertise and community to help them. Now through this merger, START is setting up the channel for the rest of Asia to enter into rapidly changing startup ecosystem and market of Mongolia and Central Asia,” added Bayarsaikhan.
The Singaporean private equity firm also acquires a minority stake in TAG Sensors
Singapore-based private equity firm Elite Partners Capital (EPC) has invested S$3 million (US$2.2 million) in Norwegian cold chain management specialist TAG Sensors.
In addition to the funding, EPC’s Elite InNorvate Growth LP, a Singapore-based fund dedicated to investments in Norwegian growth companies, has signed the agreement for a significant minority stake in TAG Sensors.
TAG Sensors will set up its Asian headquarters in Singapore to recruit local talent, set up IT infrastructure, and IP protection.
With the deal, EPC will leverage on its network and resources to help TAG Sensors expand in Asia.
TAG Sensors provides solutions to track and log the temperature of perishable and sensitive products, both in storage and during transportation.
Its main product is Temperature Logging Label, which is a low-cost, printable temperature sensor that can be attached to a product or package, facilitating continuous tracking of an item’s temperature from production to consumption. It seeks to identify and ultimately reduce product waste in the food and pharmaceutical industries.
The investment is said to represent one of the first Singaporean fund’s investments in a Norwegian tech company. The country said that it is seeking to diversify from its traditional reliance on the oil and gas sector.
TAG Sensors was established in 2012, and is a recipient of a EUR1.4 million (US$1.5 million) grant from Horizon 2020, the EU Research and Innovation programme.
It offers solutions that include Big Data analysis, digitalisation, blockchain, sensor technology, and RFID and NFC wireless technologies.
EPC Executive Chairman Micheal Tan said, “TAG Sensors has a suite of technologies which can transform the entire cold chain logistics industry. Our investment decision is anchored by the firm belief that this is a game-changer which has great potential for expansion in Asia and beyond.”
“We intend to tap on EPC’s network to expand across Asia and add value to the cold chain sector across the region. EPC is a welcome addition to our existing investors that include London- based Breed Reply and Platform Ventures USA,” said TAG Sensors CEO Knut Nygård.
In addition to updates from Australian startups, we also have three exciting news from Go-Jek
HR management platform Employment Hero raises US$15.3M in Series C funding – Press Release
Australian cloud-based human resource management platform Employment Hero today announced an AU$22 million (US$15.3 million) Series C funding round led by leading employment marketplace SEEK.
The funding round also included the participation of OneVentures and AirTree Ventures.
It has brought the company’s valuation to over AU$100 million (US$69 million).
In a press statement, Employment Hero said that it will “develop strategic integrations into SEEK’s expansive marketplace, working closely with the team to create a more holistic employment management experience for small businesses.”
It also plans to use the funding to support product development (particularly its WorkLife Passport service) and international expansion to New Zealand, Southeast Asia, the UK, and Ireland.
Australian investment tech platform Jacobi announced that it has raised an AU$11 million (US$7.6 million) funding round led by Illuminate Venture Partners, 8VC, and Credit Ease Venture Fund.
The company plans to use the funding to support product development and international expansion.
In a press statement, Jacobi said that it will focus on the European market after signing a number of large institutional investment managers.
The funding also coincides with the launch of its office in London, building on locations in Brisbane and San Francisco.
Three Mitsubishi entities join Go-Jek’s Series F round – e27
Go-Jek has added another investment into its ongoing Series F round from multiple Mitsubishi entities: Mitsubishi Motors Corporation, Mitsubishi Corporation, and Mitsubishi UFJ Lease & Finance.
The three entities of Mitsubishi also plan to tap into Go-Jek’s expertise and presence in the mobility and consumer services market in the region.
In an official statement Go-Jek said the fresh fund will “enable Go-Jek to scale its strategy and benefit more people in the region, leveraging Southeast Asia’s growing mobile-first population and rapidly expanding digital economy.”
Go-Jek, LinkAja team up to add the digital payments service on the unicorn’s main app – Kumparan
LinkAja, the Indonesian government’s answer to Go-Jek’s e-wallet service Go-Pay, announced that it has collaborated with Go-Jek.
The partnership will make LinkAja payment option to be available on the Go-Jek platform, Kumparanreported.
According to the companies, the feature will be available “soon” within this year.
Go-Jek’s VC arm invests US$5M in India’s cloud kitchen startup Rebel Foods – TechCircle
Indonesian ride-hailing giant Go-Jek has invested US$5 million in Indian cloud kitchen startup Rebel Foods, which is better known for its Faasos brand, according to a TechCirclereport.
Citing the company’s filings with the government, the report said that the investment was done through Go-Jek’s investment arm Go-Ventures.
It is part of the startup’s ongoing Series D funding round.
Ritase provides digital logistics services for trucks connecting shippers and transporters via mobile and desktop apps
Ritase, an Indonesia-based trucking services platform, has raised US$8.5 million in Series A funding led by Golden Gate Ventures, as per a report by DealStreetAsia.
Ritase plans to use the funding to focus on growth and new market expansion.
The startup was founded in 2017 by Iman Kusnadi and David Samuel. It provides digital logistics services for trucks connecting shippers and transporters via mobile and desktop application. Using Ritase, users can access a real-time monitoring and reporting for the shipment process.
Currently, the company said it covers shipments in all parts of Indonesia and facilitates tens of thousands of shipments per month, with more than 7,500 trucks, 500 transporters, and 7,000 partner drivers connected to its app.
Its portfolios include brands such as Nestle, Unilever, Universal Ribena Corporation (URC), Japfa, Signify/Phillips Lighting, Lotte, and Perfetti Van Melle.
In the ear future, Ritase plans to provide supply chain financing to local transporters and affordable spare parts and trucks through a group buying platform.
Previously, the startup has raised two rounds of funding, totalling US$4.4 million, from Insignia Ventures Partners, Mitsubishi Corporation, Beenext, Skystar Capital, Agung venture capital, and several angel investors.
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Waresix connects shippers and business with available warehouses and trucks across Indonesia
The Waresix team
Waresix, an Indonesian logistics tech startup, announced today that it has closed US$14.5 million in Series A round of funding led by EV Growth, a Southeast Asia growth fund set up by regional VC firm East Ventures (investor in Tokopedia and Traveloka).
Local VC firm SMDV and Singapore-based Jungle Ventures also joined the round, which comes less than eight months after raising its pre-Series A of US$1.6 million. Previously, the startup raised a seed round in February 2018.
The fresh financing will be used to expand Waresix’s land transportation service and further strengthen its warehousing network to second-tier cities.
“Our mission is to simplify logistics and make it accessible for everyone. With this new capital, we want to scale and expand our coverage to support the digital transformation of Indonesia’s US$240 billion domestic freight sector,” Andree Susanto, Co-founder and CEO of Waresix.
“We will continue developing our land transportation and warehousing network to more second-tier cities across the country and make further improvements to the supply chain process. Indonesia is experiencing an infrastructure growth spurt at the moment thanks to the government’s policies, and this spurt will fuel Waresix’s widening coverage as well,” he added.
According to Co-founder and CFO Edwin Wibowo, Waresix will further invest in R&D to enhance its data analytics capabilities. “Our technology will seamlessly merge data analytics with the logistics infrastructure to give businesses complete control of their goods and maximise our suppliers’ space utilisation. This way, Waresix ensures fast and reliable transportation, while keeping supply chain costs low and predictable.”
“In order to achieve our mission to simplify logistics for all. Waresix will also double down on our people investment, particularly those with data science, operations, logistics, finance, design, marketing, and sales expertise,” Wibowo added.
Founded by Susanto and Wibowo, both alumni of the University of California Berkeley, Waresix basically connects shippers and business with available warehouses and trucks across Indonesia. The aims to improve supply chain efficiency by improving utilisation and removing middlemen. It provides multi-modal services including land and marine transportation, general cargo handling, and cold storage to cater inter-island freight movement across Indonesia.
The company claims it has over 20,000 trucks and 200 warehouses on its platform.
“We’re leveraging our extensive warehouse network to generate demand and create network effect for our trucking ecosystem. By expanding into the trucking business, we can maximise space utilisation and also avoid trucks with empty miles,” according to Susanto.
The archipelagic makeup of Indonesia has resulted in one of the highest logistics costs in Asia, accounting for nearly a quarter of the country’s US$1 trillion gross domestic product (GDP). In its 2018 Logistics Performance Index, the World Bank found that while the country’ logistics sector has improved in recent years, its logistics cost-to-GDP ratio of 24 per cent still lags behind that of regional peers Thailand and Malaysia. This high logistics costs not only hamper Indonesia’s industrial competitiveness, but also add to its SMEs’ cost of doing business in the domestic economy.
The government is currently working to close Indonesia’s infrastructure deficit gap via the National Medium-Term Development Plan 2015-2019, which aims to build 2,650 km of roads, 15 airports, 24 seaports, and 3,258 km of rail lines.
