Indonesia: Total Investment expanded further in Q3 2023 – UOB
Economist at UOB Group Enrico Tanuwidjaja and Junior Economist Agus Santoso assess the latest investment figures in Indonesia.
Key Takeaways
Indonesia attracted a strong investment realization of IDR374.4tn in 3Q23, up 21.6% y/y from IDR307.8tn. The robust investment growth can be attributed to higher investment in the base metals industry, mining, transportation, storage, and communication.
Foreign Direct Investment (FDI) contributed IDR196.2tn or 52.4% of total investment, while Domestic Direct Investment (DDI) contributed IDR168.9tn or 47.6%.
The downstream sector attracted investment of IDR114.6tn or representing 30.6% of total investment in 3Q23. Robust investment growth is a catalyst for Indonesia's economic growth amid global uncertainty which resulted in exports contraction. Along with the government's program that still focuses on infrastructure development and downstreaming, going forward we expect investment will continue to grow positively, even higher than the target set by the government. All in all, stronger investment coupled with higher labor absorption will drive an improvement in people's purchasing power and consumption further.
Reprinted from FXStreet_id，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.