Few Indonesian companies are among the largest in the world. By comparison, Malaysia and Singapore have a handful. No Indonesian companies are global champions or global brands. Singapore has one in Singapore Airlines. Several Southeast Asian consolidators are invested in Indonesia: Axiata, Maybank, Temasek, Khazanah. But few Indonesian firms have ventured elsewhere. Openness to the outside world remains low.

With the country set to emerge a “winner” from the global financial crisis, the economy has the potential to expand “significantly” by more than 7 percent, according to Joachim von Amsberg, the World Bank’s representative in Jakarta. However, corporate executives say this will only be possible if the government manages to soon fix the nation’s woefully congested roads, neglected ports and aging power plants.

Trade associations representing exporters say they are dismayed by the lack of state help in opening up new markets, and are urging the government to devise a strategy to help them cope with the slump in demand from traditional export destinations.