Singapore, 20 September 2024 – Asia Manna, a leading platform dedicated to facilitating business growth in the food and beverage (F&B) sector, is excited to announce the launch of its new Business Matching Services specifically tailored for companies looking to enter the dynamic Indonesian market.
As one of the largest and most rapidly growing economies in Southeast Asia, Indonesia presents a wealth of opportunities for F&B companies seeking to expand their footprint. With a diverse consumer base and an increasing appetite for innovative food and beverage products, the country is a prime target for international brands.
Asia Manna’s Business Matching Services aim to streamline the entry process for F&B companies by connecting them with local distributors, suppliers, and industry stakeholders. This tailored service not only helps businesses identify potential partners but also provides insights into market trends, regulatory requirements, and consumer preferences.
WHY DO BUSINESS WITH INDONESIA?
- Indonesia’s gross domestic product (GDP) was US$1319.10 billion in 2022, making it one of the largest economies in Asia. The nation’s abundance of natural resources and raw materials, including oil, gas, palm oil, and coffee, allows any business opportunities.
- South East Asia’s largest economy: Indonesia’s population is relatively young. Urban consumers account for about 57% of the total population and are expected to reach 71% (209 million) by 2030.
- Strong regional and bilateral relations: Singapore is among Indonesia’s top foreign investors and trading partners. Both governments enjoy a strong economic relationship, which bodes well for Singapore firms looking to venture to Indonesia.
- Investor-friendly policies for investments: The 2020 Omnibus Law revises barriers to investments and improves the ease of doing business, while the new Online Single Submission System streamlines the process of applying for business licenses.
- Growing Middle Class: Indonesia has one of the fastest-growing middle classes in the world, and according to McKinsey, in 2030, it is expected that 90 million Indonesians will join the consumer class.
- While traditional retail channels dominate, modern retail continues to gain ground: Traditional retail channels, including mom-and-pop stores (warungs) and wet markets, still dominate the retail landscape in Indonesia, but modern trade’s share continues to rise, led by the growth of convenience stores. The modern retail landscape remains increasingly fragmented as consumers rely on multiple channels — convenience stores, hypermarkets, supermarkets, department stores and others.
- Strategic Location: Located in Southeast Asia, Indonesia serves as a gateway to the region’s dynamic markets. Its proximity to other major economies like China, India, and Australia enhances its strategic importance for businesses looking to expand in Asia.
- Abundant Natural Resources: Indonesia is rich in natural resources, including oil, gas, coal, palm oil, and minerals. This makes it a prime location for businesses in the energy, agriculture, and mining sectors.
- Young Workforce: Indonesia has a relatively young and growing workforce, which is increasingly skilled and educated. This demographic advantage can be beneficial for businesses seeking a vibrant labor market.
- Tourism and Hospitality: Indonesia is a popular tourist destination, known for its diverse culture, beautiful landscapes, and rich history. The tourism and hospitality sectors offer substantial opportunities for investment.
– Ends –
MEDIA ENQUIRIES:
Daniel Chen
Marketing Communications
Singapore & Asia Food Fair 2024
info@asiamanna.com.sg
NOTES TO EDITORS:
About Asia Manna Pte Ltd
Asia Manna Pte Ltd is a leading event organizing company dedicated to creating business opportunities and networks for Singapore SMEs in overseas markets. Our management team, the same experts behind Biz Africa Events Pte Ltd, boasts over 50 years of combined MICE industry experience. Asia Manna specializes in successful trade shows, industry conferences, and international exhibitions, enhancing the visibility and growth of participating businesses.
For more information, visit www.asiamanna.com.sg.