Indonesia's new president will be faced with the tough task of resolving a number of problems that have been obstacles in the business world. The presidential candidates (bacapres) and vice presidential candidates (bacawpres) who will advance to the 2024 presidential election (pilpres) are complete. The presidential candidate from the Advanced Indonesia Coalition, Prabowo Subianto, will collaborate with Gibran Rakabuming Raka. PDI-Perjuangan's presidential candidate, Ganjar Pranowo, will run alongside Mahfud MD. Meanwhile, Anies Baswedan, who is supported by the Nasdem Party, the Prosperous Justice Party and the National Awakening Party, will run with Muhaimin Iskandar.

With the completion of the 2024 presidential and vice presidential elections, the public is now waiting for what programs and campaign promises they will offer. This includes campaign promises to entrepreneurs. On various occasions, entrepreneurs and business people have expressed their hopes for the new president. The new president is expected to be able to guarantee economic and political stability for the sake of economic sustainability. One way is by not making very drastic changes to economic policy.

They also hope that the new president can solve a number of problems that have been a big obstacle, especially the ease of doing business.

Business players are also waiting to see how the new president will overcome high logistics costs and incentives to boost investment and reduce production costs.

Stability for High Economic Growth

On average, Indonesia's economy grew around 4.12% under the administration of President Joko Widodo (Jokowi). With an average growth of 4.12%, the realization of economic growth will deviate far from that stipulated in the 2020-2024 National Medium Term Development Plan (RPJMN).

The RPJMN document states that Indonesia's economy is expected to reach 6.6-7% in 2024. Indonesia's GDP per capita in 2022 will reach IDR 71.0 million or US$4,783.9.

According to the calculations of the National Development Planning Agency (Bappenas), Indonesia needs to grow 6-7% to become a developed country and get out of the middle class trap.

With a growth target of this size, Indonesia clearly needs economic and political stability to ensure that financial market conditions or business activities are not disrupted.

Drastic changes in the economic or regulatory sector will disrupt the business climate and reduce the interest of foreign investors in building businesses in the country.