Indonesia eyes record-high investment

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Chatib Basri, head of Indonesia’s Investment Coordinating Board

Indonesia has set itself the target of reaching $41 billion in investment in 2013, the head of the country’s Investment Coordinating Board, Chatib Basri, said at a press conference in Jakarta earlier this week.

This is a hike of almost 38 per cent as compared to the target for 2012.

Basri cited a number of factors that would make this target achieveable. He said that the country’s increasing purchasing power from a growing middle class continues to attract investors’ interest. Infrastructure investment is also an important driver for the Indonesian economy. Furthermore, foreign investors are attracted by the country’s huge available workforce at low wages compared to other Southeast Asian countries.

Basri said that even though the world economy was still unstable, Indonesia could benefit from these factors and achieve the set target. The exposure of the country’s economy to Europe was not that big, he added.

The country’s middle class is predicted to increase over the next 10 years to 110 million people, each with a daily spending ability of more than $10.

Indonesia, Southeast Asia’s largest economy, expanded by 6.4 per cent in the second quarter of this year, which was higher than most analysts had predicted, after growing by 6.3 per cent in the first quarter. See our earlier story.

The country’s economic growth during this period outperformed some of the highest economic growth figures in the world, coming second after China among the G20 countries.

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Reading Time: 1 minute

Chatib Basri, head of Indonesia’s Investment Coordinating Board

Indonesia has set itself the target of reaching $41 billion in investment in 2013, the head of the country’s Investment Coordinating Board, Chatib Basri, said at a press conference in Jakarta earlier this week.

Reading Time: 1 minute

Chatib Basri, head of Indonesia’s Investment Coordinating Board

Indonesia has set itself the target of reaching $41 billion in investment in 2013, the head of the country’s Investment Coordinating Board, Chatib Basri, said at a press conference in Jakarta earlier this week.

This is a hike of almost 38 per cent as compared to the target for 2012.

Basri cited a number of factors that would make this target achieveable. He said that the country’s increasing purchasing power from a growing middle class continues to attract investors’ interest. Infrastructure investment is also an important driver for the Indonesian economy. Furthermore, foreign investors are attracted by the country’s huge available workforce at low wages compared to other Southeast Asian countries.

Basri said that even though the world economy was still unstable, Indonesia could benefit from these factors and achieve the set target. The exposure of the country’s economy to Europe was not that big, he added.

The country’s middle class is predicted to increase over the next 10 years to 110 million people, each with a daily spending ability of more than $10.

Indonesia, Southeast Asia’s largest economy, expanded by 6.4 per cent in the second quarter of this year, which was higher than most analysts had predicted, after growing by 6.3 per cent in the first quarter. See our earlier story.

The country’s economic growth during this period outperformed some of the highest economic growth figures in the world, coming second after China among the G20 countries.

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