Bank Mandiri Launches Mandiri Institute

Jakarta, 12 May 2014 - Bank Mandiri has inaugurated an independent research institute, the Mandiri Institute (MI), to create synergies with a view to creating Indonesia Incorporated. The research institute was officially launched by Bank Mandiri CEO Budi G. Sadikin and Darmin Nasution, the Chairman of the Mandiri Institute's Advisory Board. The event, which took place in Jakarta on Monday (12 May),.was witnessed by Minister of Finance Chatib Basri and Governor of Bank Indonesia Agus DW Martowardojo

"The establishment of this institute is in line with Bank Mandiri's vision of enhancing the country's prosperity and of becoming the best bank in ASEAN by 2020. We believe that the involvement of competent people will help provide a comprehensive perspective so that the Mandiri Institute can produce output that is capable of creating a better Indonesia in the future," Budi G. Sadikin said.

Currently, Indonesia is the 16th largest economy in the world with a nominal GDP of Rp 8,800 trillion (or USD 842 billion) and average economic growth over the last 3 years of 6.2%, the most stable in the region. Meanwhile, GDP per capita reached USD 3,563 in 2013, a nearly 5-fold since the crisis of 1997/1998. Against this backdrop, Indonesia has the potential to become the 7th largest economy in the world by 2030.

This is supported by a rapidly expanding middle class and a large population of young people, both of which offer huge opportunities in such sectors as consumer services, agriculture and fisheries, natural resources, and education. It is expected that Indonesian GDP could reach USD 1.8 trillion by 2030, a 3-fold increase compared to now.

"The support of a professional and reliable research and development team is essential if Indonesia is to become a great country. This is what the Mandiri Institute offers. The institute is dedicated to producing the best public policy recommendations based on active interaction among stakeholders," Darmin Nasution explained.

He said that in its first year, the Mandiri Institute would focus on three main themes -- inclusive finance, deepening the financial sector, and entrepreneurship. The choice of these three themes, he said, is in line with the government's commitment to increasing community participation in national economic development.

In general, the Mandiri Institute will host expert discussions, public policy conferences, assessment programs, advisory board meetings, conferences and seminars. The Institute will also produce research findings in the form of reports and economic and financial indicators, and present awards in recognition of outstanding achievers.

In pursuing its programs, the Mandiri Institute will forge partnerships for the purpose of conducting research, disseminating research findings, and the provision of internship and fellowship programs. Such partnerships will be developed with universities, nonprofit organizations, international organizations and corporations, including the World Bank, IMF, IFC, McKinsey, Oliver Wyman, University of Indonesia, Bandung Institute of Technology and Gadjah Mada University.


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