Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(45)

Comparative Study on the Perception and Response of Singapore and Indonesia

On top of that, larger local firms such as traditional family businesses are also deeming the AEC as a valuable chance for their new source of growth engines. Nevertheless, overall perception and response of Indonesia is assessed still lagging behind those of Singapore. 

This could explain why governmental attention and consideration for non-major players in the business sector including SMEs would be top priority for Indonesia to pave the way to the AEC. Truly speaking, as a backbone of the national economy, Indonesian SMEs have undertaken as much as 59% of the GDP and 97% of the business establishments.