Global index provider MSCI has recognized Indonesia’s recent reforms aimed at increasing transparency in its capital market. Despite these positive developments, MSCI has decided to maintain Indonesia’s current Emerging Market status, rather than upgrading it. The decision indicates continued scrutiny of the Indonesian market by the index provider. MSCI acknowledged the steps taken by Indonesian authorities to improve market practices and regulations. The ongoing monitoring suggests further improvements may be needed for a potential reclassification in the future. This outcome impacts investor confidence and portfolio allocations related to Indonesian assets. The Indonesian government has been actively working to attract foreign investment through market reforms.