Wayne Forrest

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About wayne-forrest2

Wayne Forrest is President of the American Indonesian Chamber of Commerce, a private not for profit membership organization based in NY.

Idul Fitri Reshuffle

June 30, 2105The serious Cabinet reshuffle rumors began in June: in Indonesia, they are part of the air one breaths. An underwhelming economic performance would prompt President Jokowi to reshuffle his Cabinet after Lebaran (end of the Muslim fasting month on July 18), especially his economic team. The economy is, given Indonesia's potential, standing still, [...]

Soekarno’s Echo

Indonesia's first President became so frustrated with the "West" that he famously declared " go to hell with your aid".  A combination of the Cold War and misjudgments of Soekarno's complex ideology (mixing capitalism and socialism) led the US and other countries down several dead ends that almost capsized relations completely.  The late 1950's and [...]

Backing Away From the Dollar

We are starting to see the glimmer of a new strategy for how Indonesia wants to do business and it may have less to with the US dollar. Foreign exchange ratios have been a hot topic among Indonesia's policy makers ever since June of 2014 when the first news of the end of Fed easing [...]

The Value Added State

President Jokowi is likely to travel to the US for his first official visit to Washington in early June.  President Obama no doubt wants to hear Indonesia's President describe his country, his plans for its economic future and how the US fits in.   What might Jokowi tell President Obama about today's Indonesia? He will [...]

Outlook for 2015: Cautious Optimism

Commentary by Wayne ForrestSince taking office in October President Jokowi has not waited for Parliament, using his executive powers to reset Indonesia's course. He is turning out to be savvier then many gave him credit for.  2015 could mark the beginning of a positive new chapter in Indonesia's economic development.   Although only a short amount [...]

Which Tune is Playing ?

Commentary By Wayne ForrestIf I could have a musical score as the backdrop to this commentary, I would want it to be something upbeat, perhaps the 1933 song "We're in the Money".  Indonesia has a new, dynamic young leader, President Joko Widodo, with a strong reform agenda as well as operational experience at lower levels [...]

By |November 12th, 2014|Uncategorized|0 Comments

Parliament Votes to End Direct Elections: Twists and Turns

Politics in Indonesia is about to become a whole lot more interesting. Late last Friday while President SBY was in DC --after addressing the UN Global Climate Change Summit in NY--Indonesia's Parliament voted to end the direct election of district heads, mayors, and provincial governors. Touted in 2004 as a further improvement and maturation of Indonesia's [...]

Where Are The Technocrats ?

I have been watching the rupiah flirt with 12,000, remembering 1998 time when it dropped from 2400 to 15,000, and the long period in 2010 and 2011 when it was steady at 8,800-9200. Its tough to see the currency move lower and growth rates in the 5% range when its generally known that Indonesia's population [...]

Bima vs Puntadewa

CEO Notes Bima                                            Puntadewa Indonesia’s Presidential campaign has now kicked off in earnest and although the two candidates don't have too many differences over the substance of their economic policies, they do differ markedly in character and personality. And its character [...]

Edward Masters: (1924-2014) Built to Last

The passing of Ambassador Edward Masters in March sent a twinge of sadness through many of us.  He taught us many things by his actions as much as his words. Together with his wife Allene, he created ideas, institutions and relationships that lasted.  Beginning in the mid 1960’s he experienced Indonesia from multiple perspectives: junior [...]