Two years ago, Indonesia was one of the hottest markets in Asia for international law firms, who saw opportunity in its natural resource wealth, rising middle class and investment-friendly regime.
Now, the picture is a bit cloudier. A drop in demand from China has hit Indonesia’s resources sector hard, and the political environment has shifted in a more nationalist direction as a presidential election looms. As a result, firms say clients weighing investments in the country are holding off, waiting to see if things change after the election in July.
