Indonesia secured 829 trillion rupiah in combined investments in early 2024, a 22.3% increase from 2023, with significant investments in downstream metals and telecommunications sectors, and 355 million cellular subscribers.
Investment Surge in Indonesia
Indonesia’s Ministry of Investment announced that the nation secured a combined total of 829 trillion rupiah (US$53 billion) in foreign and domestic investments during the first half of 2024. This marks a significant 22.3 percent increase from the same period in 2023. The surge reflects growing investor confidence in the Indonesian market’s future prospects.
Leading Sectors and Investment Sources
Continuing the trend from 2023, Indonesia’s downstream metal industry remained the top recipient of investment. The first half of 2024 also saw substantial investments amounting to 89.2 trillion rupiah (US$5.7 billion) in transportation and telecommunications sectors. These sectors are pivotal to Indonesia’s ongoing economic transformation and infrastructural development.
Telecommunications Boom
Indonesia ranks just behind China and India in cellular phone subscriptions, boasting 355 million subscribers. The completion of the Palapa Ring project in late 2019 significantly boosted connectivity, providing access to 4G services to over 500 regencies. Consequently, the country now enjoys an estimated 258 million 4G subscribers, underlining its telecommunications growth.
Read the original article : Indonesia’s Record Investment Inflows: Key Highlights from H1 2024
This article was first published by ASEAN Briefing 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.
