Creative goods are among Indonesia's strengths in the Global Innovation Index. (Antara Photo/Mohammad Ayudha)
Indonesia's Innovativeness Improves, Regulatory Environment Lags Behind
BY :AMAL GANESHA
JULY 24, 2018
Jakarta. Indonesia's rank in the Global Innovation Index has slightly improved to 85th from 87th in 2017, reflecting improvements in the country's business environment.
The annual report is sponsored by graduate business school Insead, Cornell University's SC Johnson College of Business and the World Intellectual Property Organization.
"For Indonesia, a country with a large and young population, situated in the most dynamic region of the world, possibilities are significant to leverage its economic and social potential to benefit from global innovation," Insead executive director for global indices Bruno Lanvin told the Jakarta Globe last week.
This year, 126 countries were listed, out of them 15 in Southeast Asia and Oceania. Singapore is the region's best performer, ranking fifth.
Switzerland leads the rank for the eighth consecutive year.
The Global Innovation Index (GII) ranks economies based on indicators ranging from the creation of mobile applications to education spending, scientific research, publications and intellectual property filing rates.
Indonesia's strengths were in its huge domestic market, creative goods exports and university-industry research collaboration.
Business environment, in terms of opening new businesses, has significantly improved, coming in line with Indonesia's higher rank in the World Bank's "Ease of Doing Business" index, in which it was 72nd in 2017, compared with 109th in 2016.
Now it takes 22 days on average to start a business in Jakarta, better than in 2012, when it took 45 days to go through the same process.
However, the country's regulatory environment is still weak, among the weakest in the ranking.