Indonesia aims for 1.4 trillion rupiah in foreign and domestic investments in 2023 and 1.6 trillion rupiah in 2024. Most foreign investment is in downstream commodity industries, with top sources being in minerals.
Key Economic Highlights in Indonesia for 2023
In 2023, Indonesia aimed to attract 1.4 trillion rupiah (US$89 billion) in combined foreign and domestic investments, with a target of 1.6 trillion rupiah (US$102 billion) for 2024. The country saw significant foreign investment in downstream commodity industries, particularly in minerals, similar to the trends observed in 2022.
Top Sources of FDI for January-September 2023
For the period of January-September 2023, Indonesia’s top foreign direct investment (FDI) sources included investments in smelters, oil and gas, oleochemicals, pulp and paper, and electric batteries. The country recorded a total FDI of US$8.7 billion in the basic metals industry during this period.
Sectors Attracting Foreign Investment
Notable sectors attracting the bulk of foreign investment in Indonesia include downstream commodity industries, with a focus on minerals, as well as investments in oil and gas, oleochemicals, pulp and paper, and electric batteries.
Read the original article : Indonesia Economy Recap for 2023
This article was first published by AseanBriefing which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, India, and Russia. Readers may write to info@dezshira.com.
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