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Mandala Insights

Explore our latest analysis, commentary, and perspectives on the critical issues shaping Indonesia's policy and regulatory landscape.

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Unpacking U.S. Tariffs and Their Blow to Indonesia’s Economy
Economics

Unpacking U.S. Tariffs and Their Blow to Indonesia’s Economy

(Disclaimer: A correction was made on July 22 on page 15 of the report. The U.S import proportions of Indonesia's top imports from the U.S now reflects the correct 2023 values). On 15 July 2025, U.S. President Donald Trump reported that the U.S has reached a trade agreement with Indonesia. It is reported that Indonesian goods face a 19% import duty to enter the U.S, lower than the 32% imposed earlier on 2 April. While much of the conversation has focused on the immediate impact, Mandala takes a broader view—combining recent developments with academic, trade, and business perspectives to uncover both risks and opportunities for Indonesia.
July 16, 2025
Publication
Tracing Inequality in Indonesia: Between Wealth Distribution and Income Gaps
Economics

Tracing Inequality in Indonesia: Between Wealth Distribution and Income Gaps

The World Bank has updated its global poverty threshold, raising the extreme poverty line of upper-middle-income countries like Indonesia from US$6.85 (2017 PPP) to US$8.30 per day (2021 PPP). In this edition, Mandala examines the two distinct yet interconnected dimensions of inequality—income and wealth—that shape the lived experience of economic hardship in Indonesia.
June 26, 2025
Publication
AI Regulation, Policies, and Governance Benchmarking
Tech

AI Regulation, Policies, and Governance Benchmarking

Mandala developed this opening chapter to map Indonesia’s current AI landscape—covering national policies and initiatives, the intersections and gaps within existing regulatory frameworks, and a range of sectoral use cases across finance, health, and the creative economy.
June 12, 2025
Publication
Indonesia’s Shrinking Household Savings
Economics

Indonesia’s Shrinking Household Savings

Over the past 12 years, Indonesia’s household savings have steadily declined, with average deposit values falling significantly. Although total third-party funds (DPK) in the banking sector continue to grow—driven by corporate and government deposits—household DPK has shown weaker performance. Please read our latest take on this issue to understand the underlying patterns and data.
April 24, 2025
Article
Newest Update on Law 1/2025 on State Owned Enterprises
Politics

Newest Update on Law 1/2025 on State Owned Enterprises

#MandalaAlert: On February 24, 2025, President Prabowo Subianto enacted Law Number 1 of 2025 to introduce a reforms aimed at enhancing the governance and competitiveness of Indonesian SOEs (BUMN). A pivotal aspect of this amendment is the establishment of the Daya Anagata Nusantara Investment Management Agency, known as Danantara, which is set to play a central role in the strategic management of state assets.
March 10, 2025
Publication
Downstreaming as a Growth Strategy
Economics

Downstreaming as a Growth Strategy

Mandala has developed a study, emphasizing that downstreaming can be a key strategy for Indonesia to achieve Vision 2045—breaking free from the resource curse, optimizing the demographic dividend, and transitioning into an advanced economy.
February 24, 2025
Publication
Mandala's Recap of Prabowo's Diplomacy Tour
Politics

Mandala's Recap of Prabowo's Diplomacy Tour

In this study, Mandala summarizes the trip, highlighting the countries visited, the leaders engaged, the accompanying ministers and business representatives, and the key topics discussed in each meeting during Prabowo's trip across six countries.
November 29, 2024
Publication
Navigating Prabowo's Cabinet: Introducing the New Ministries and Bodies
Politics

Navigating Prabowo's Cabinet: Introducing the New Ministries and Bodies

The new cabinet under President Prabowo has expanded, introducing new ministries, a restructured set of coordinating ministries, and additional government bodies. These structural changes are designed to ensure the delivery of president's agenda. With these changes, it is essential to provide a better understanding on the new cabinet.
November 08, 2024
Publication
Inside Prabowo's Cabinet: Mandala Mini Brief
Politics

Inside Prabowo's Cabinet: Mandala Mini Brief

Continuing with Indonesia’s Cabinet Organization Design #3, Mandala presents a review of seven ministers whose sectors align with Mandala's portfolio. This review covers the archetypes of these ministers, their backgrounds, and the relevance of their positions. Additionally, we explore potential breakthroughs they may introduce and share impressions and references about them.
October 23, 2024
Publication
Indonesia’s Cabinet Organization Design #3
Politics

Indonesia’s Cabinet Organization Design #3

This final installment of Mandala’s comprehensive three-part series on cabinet structure, examines how ministerial roles are assigned to ensure political stability, loyalty, and effective governance. The study offers insights into ministerial archetypes, recruitment patterns, ministerial tiering, and the strategic approach behind the selection process.
October 19, 2024
Publication
Indonesia’s Cabinet Organization Design #2
Politics

Indonesia’s Cabinet Organization Design #2

In this second installment of Mandala’s comprehensive three-part series on cabinet structure, we explore the composition of the president’s closest advisors. What key functions should this circle fulfill? Who currently occupies these roles? Indonesia’s Cabinet Organization Design #2: The President’s Inner Circle
October 11, 2024
Publication
Indonesia’s Cabinet Organization Design #1
Politics

Indonesia’s Cabinet Organization Design #1

As the presidential inauguration and cabinet announcement are set to take place on October 20 and 21 (based on Prabowo's statement), the formation of a new cabinet under the incoming administration has become a central topic of public discourse. To provide a better understanding of cabinet structures and related insights, Mandala presents a series of studies based on benchmarking from various countries. Indonesia’s Cabinet Organization Design #1: Understanding the innovative ministerial and breakthrough minister profile across the world
October 05, 2024
Publication
Assessing Indonesia's Sea Sand Policy and Implications
Environment

Assessing Indonesia's Sea Sand Policy and Implications

Indonesia has officially reopened the export of sea sand following the issuance of Minister of Trade Regulation (Permendag) No. 20 of 2024 and Permendag No. 21 of 2024 by the Minister of Trade, Zulkifli Hasan. Amid the public discourse on the pros and cons of sea sand export policies, Mandala presents a brief study on sea sand.
September 20, 2024
Publication
Indonesia Carbon Policy Landscape
Environment

Indonesia Carbon Policy Landscape

Indonesia’s carbon trading mechanism has seen improved regulation with the establishment of IDX Carbon. However, several challenges have persisted since its 2023 implementation.
September 17, 2024
Publication
Office of the President (KSP) Benchmark
Politics

Office of the President (KSP) Benchmark

Our recent brief benchmarking study has shed light on how other EOPs like Indonesia’s Kantor Staf Presiden (KSP) can be improved.
August 20, 2024
Publication
Downstreaming Nickel Industry in Indonesia
Energy & Minerals

Downstreaming Nickel Industry in Indonesia

With Indonesia's abundant nickel reserves and strategic focus on downstreaming, the potential for economic growth and industrial advancement is immense. We have updated our study on downstreaming with key changes and the latest 2023 figures.
July 31, 2024
Publication
Digital Banking 101
Economics

Digital Banking 101

With a significant portion of its adult population still underbanked and underserved, Indonesia presents immense potential for digital banks. This study delves deep into various facets of digital banking in Indonesia, covering its economic impact, regulatory environment, and the key challenges faced by digital banks in the country.
April 30, 2024
Publication
2024 Presidential Candidate Policy Analysis: Where They Stand?
Politics

2024 Presidential Candidate Policy Analysis: Where They Stand?

In the lead-up to 2024 Indonesia’s election, it’s crucial to delve into the policies that will shape our nation’s future and its impact on the business sector. Mandala compiled and analyzed each candidate’s vision-mission documents focusing on three key aspects.
February 13, 2024
Publication
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