Economist at UOB Group Enrico Tanuwidjaja and Junior Economist Agus Santoso comment on the latest Total Investment figures in Indonesia.Indonesia continued to attract higher total investment in second quarter of 2023 at IDR349.8tn, registering a robust 15.7% y/y growth and marking a new record high in the last decade.
In terms of job creation, investment into Indonesia in 2Q23 contributed 464.3k new jobs, rising sharply by 44.9% y/y or +79.6k addition viz. the previous quarter. Going forward, Indonesian government is determined to expand minerals downstream which targeted 21 commodities as its target priority by 2023-2035. This agenda may encourage investment to grow larger continuing its trajectory.Information on these pages contains forward-looking statements that involve risks and uncertainties.