Cekindo Business International is now InCorp Indonesia. Learn more.
InCorp offers a comprehensive range of solutions to ease the company registration process and help you create a viable roadmap for your business.
Get assistance from experts with a decade of experience in assisting international business owners expanding into Indonesia.
Avoid any bureaucratic complexity when closing your company by engaging with our experienced legal advisors.
What type of legal entities should you choose to register a company in Indonesia? We can assist you in choosing which is the best one to grow your business.
To help businesses survive during this unfortunate time, InCorp provides corporate recovery in Indonesia and insolvency services.
Obtaining property & land ownership in Indonesia offers some challenges for foreigners. However, buying property in Indonesia is attainable with specific resources and documents.
Recent regulatory changes have a knock-on effect on Indonesia's Merger & Acquisition landscape. Check on how we can navigate you through your M&A in Indonesia.
InCorp provides Virtual Office services Indonesia in various locations: Jakarta, Bali, Semarang, Surabaya, and Batam.
Business process outsourcing in Indonesia is a viable option to streamline bureaucratic complexities that hurdle your business expansion objectives.
InCorp offers a complete range of accounting service Indonesia, from tax reporting to auditing.
With professional financial audit services from InCorp, you can ensure all accounting activities are accurately recorded and compliant with Indonesian regulations.
Using an Employer of Record service to set your roots in Indonesia opens the doors to new opportunities in the country.
Financial and Operational Resilience services from InCorp are developed to support businesses and help them survive during this difficult time.
Payroll services in Indonesia are a practical solution to avoid unnecessary complexities while you focus on growing your business.
Using a recruitment agency in Indonesia will help you hire the best candidates for your company, saving you time and money.
Tax consulting in Indonesia are the shortcuts to fulfill the administrative obligations with high accuracy and in a timely manner.
The Indonesian government promotes tax holidays as one of the fiscal incentives to attract major foreign direct investment in Indonesia.
Operating businesses in Indonesia, entrepreneurs must comply with the regulations accordingly, especially concerning taxes.
Immigration in Indonesia is one of the strictest and most complex processes due to its ever-changing regulations. InCorp provides a seamless experience in obtaining your stay and work permits.
Avoid any hassles by engaging with an experienced visa agent in Indonesia.
A dependent visa Indonesia is a document that allows foreigners to bring their family while settling down in the country.
Investor KITAS Indonesia is a stay permit that offers many benefits to investors that invest in the country.
Overseas Visas are required for Indonesians who are planning to stay abroad for an extended period of time.
KITAP is a permanent stay visa for foreigners who have intentions to stay in Indonesia.
Foreign retirees often find their plans stuck due to the complex visa application process. InCorp helps expedite the process.
Obtaining a social visa is daunting if you are not familiar with the country’s complex bureaucratic processes. Consult with us for a seamless Indonesian visa application experience.
Foreigners married to an Indonesian citizen are eligible for a spouse-sponsored KITAS.
Learn how to obtain an Indonesian tourist visa seamlessly and securely, directly from a trusted visa and travel agent.
Get assistance from a trusted visa agent in Indonesia to make your traveling plan to Indonesia even more convenient.
Expedite your Indonesian work permit application process by engaging with a trusted visa agent.
All imported goods must obtain permission granted by specific governing bodies prior to entering the local market.
Learn more about the cosmetic product registration services in Indonesia.
Learn more about exporting goods to Indonesia.
Learn more about the food & beverage product registration services in Indonesia
Learn how to go through halal certification in Indonesia directly from experts successfully.
Learn more about the health supplement product registration services in Indonesia.
Learn more about the household product registration services in Indonesia.
Learn more about importing goods from Indonesia
An Importer of Record in Indonesia is a legal service that enables companies to import products into Indonesia, through an import partner.
Learn more about the medical device registration services in Indonesia.
Register a trademark is necessary to avoid legal issues in the future. InCorp can help you with Trademark Registration services in Indonesia.
Compliance is one of the most challenging parts of business overseas, especially in a country packed with complex bureaucratic processes such as Indonesia.
Updating business documents to align with your company’s growth can be a hassle.
Due Diligence services are needed to assess the credibility of the company or partner you wish to work with or acquire in Indonesia
From Company Regulations to Employment Agreement Drafting, Employment law services from InCorp will help you to compliance with employment policy in Indonesia.
InCorp’s legal consultation services in Indonesia are crafted to help your business settle and fully comply with the latest regulations.
Organizations must continuously evolve and transform to remain competitive and relevant in today’s global environment ...
Companies face many opportunities and challenges as a result of a changing market and regulatory landscape ...
Adopting Environmental, Social, and Corporate Governance (ESG) practices can improve your company’s value ...
Risk Management services from InCorp Indonesia can assist companies in building confidence when making future business decisions ...
Transfer Pricing in Indonesia occurs when a company performs an internal transaction within the same business group or its subsidiaries
InCorp's transfer pricing advisory services in Indonesia are marked by the objective to support our clients' business needs.
Our transfer pricing services provide you with a hassle-free experience while still complying with the legal aspects of transfer pricing in Indonesia.
As the market-entry consulting firm in Indonesia, InCorp provides a wide range of customized solutions to ease the business incorporation process.
Both natural and legal persons are entitled to open a bank account in Indonesia. Find out how to open a bank account in Indonesia, here.
InCorp can help you find a trusted Buying Agent Indonesia for product sourcing in Indonesia. Contact us now for a free consultation.
InCorp can help foreigners to get the driving license in Indonesia, whether SIM A or SIM C. Check out the requirements and the procedure, here.
IMEI Registration in Indonesia is necessary to ensure telecommunication devices from abroad can function properly in Indonesia.
With offices in Jakarta, Bali, Semarang, SUrabaya, and Batam, InCorp is ready to assist you as a local partner and distributor in Indonesia.
InCorp can help you to select the trusted local partners to import and distribute your products in Indonesia.
Improve your business by knowing the market conditions in Indonesia through market research services in Indonesia.
InCorp can help you gain information about your competitor's product through mystery shopping.
Stagflation is an economic condition that results from weak economic growth and high unemployment rates. What follows this financial condition is inflation in prices. Another definition of stagflation is the decline of GDP during inflation. The risk of stagflation in 2022 haunts the world economy.
The term stagflation was first coined by Macleod in the 1960s when England was experiencing an economic condition with high pressure. Macleod continued to talk about inflation during a time of stagnation which he said was stagflation. The word was used again during the recession period in the 1970s.
The fuel crisis in the United States caused the negative GDP growth experienced for five consecutive quarters. In 1973, the inflation rate doubled and even reached double digits the following year. While on the other hand, the US unemployment rate reached 9% the year after.
The situation shows how bad the condition in society is when stagflation occurs in certain countries. It is said that stagflation causes the misery index to rise. The misery index is a measure derived from the combined levels of inflation and unemployment. The stagflation of an economy is the most feared condition by a country since it destroys two sides of a market economy: the supply and demand side.
In October 2021, the United States saw inflation rates reaching a high of 6.2%, spiking goods and services prices. This was a new high in the last 30 years. The fuel price rose about 12%, and so did food prices and basic housing costs. Workers’ welfare during this time was at a new low.
The CIO of BlackRock said that the increase in employment would continue to drive demand for goods and services and higher wages. With the stimulus check given by the government as a way to support communities affected by the pandemic, the problem only becomes bigger.
Joe Biden and the US central bank are persistent that these price hikes are only temporary. Inflation is still hurting everyone. Therefore, President Biden’s main priority is to reverse the trend. Energy costs and natural gas prices have fallen.
Despite these dire conditions, Finance Minister Janet Yellen said the conditions were not as bad as in the 1970s. China is experiencing the same thing, with oil prices reaching USD 80 per barrel.
The World Economic Forum writes that rising energy prices and supply chain bottlenecks have revived conversations about stagflation. Google searches for the term “stagflation” have spiked amid signs of a global energy crisis.
Then, Bank of America’s Head of Global G10 FX Strategy Athanasios Vamvakidis said stagflation had taken root worldwide. “The rise in energy prices is a warning to the market, and the more likely scenario now is for the US to have higher inflation and weaker output,” Vamvakidis said.
Minister of Finance, Sri Mulyani Indrawati, said that the government needs to be alert to the possibility of stagflation in Indonesia.
“Of course, the position of the economic slowdown in China will certainly have an impact on various world economies, from commodity prices to world economic growth as a whole,” she said last October.
Indonesia experienced stagflation in 1998. The high price of goods and the amount of money circulating in the community caused the value of money to decline. Globally, the exchange rate of the rupiah against the US dollar also fell at that time.
Sri Mulyani shared her predictions regarding the global economy. According to her, the increase in the United States Central Bank’s benchmark interest rate will impact the country’s economic growth.
Sri Mulyani assessed that based on experiences that occurred in the history of the United States, this situation would trigger negative economic growth, even a recession. She even went on to say that stagflation in 2022 haunts many countries in the world, including Indonesia.
It is necessary to respond to the stagflation threats with the right policies so that Indonesia does not get caught up in it. She explained that stagflation in 2022 shows the condition of a country where inflation is high but economic growth is slow. Therefore, when inflation is high, monetary policy must be adjusted and not also fly up.
According to her, inflation in Indonesia is still safe despite the high price increases due to geopolitical conditions in Russia and Ukraine. Indonesia’s economic growth is also safe because it remains high amidst the many global risks.
However, fiscal policy must respond to such high price spikes, especially for energy, to survive stagflation. One of them is increasing the energy subsidy budget, which is no longer in line with the current oil price reaching US$ 100 per barrel.
The energy subsidy budget is intended so that the government does not need to take steps to increase the prices of fuel and electricity consumed by the wider community. So that inflation can be more controlled. However, Sri Mulyani estimates that inflation could approach 4% by the end of the year.
Foreign investors can use economic conditions like this for business opportunities in Indonesia, which could reduce imports. Setting up a business in Indonesia will require a business license that can be acquired with the help of professional market entry consulting firms like Cekindo.
An expert for more than 10 years, Pandu Biasramadhan, has an extensive background in providing top-quality and comprehensive business solutions for enterprises in Indonesia and managing regional partnership channels across Southeast Asia.