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Investment jumps 20.8% in 2024 as businesses gain confidence post election
Total investment grew by 20.8 percent to Rp 1.7 quadrillion (US$105 billion) last year compared to the previous year.
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Investment Minister Rosan Roeslani shakes guests' hands on Aug. 19, 2024, following the handover ceremony at the Investment Ministry office in Jakarta. (JP/Deni Ghifari)
I
ndonesia booked strong growth in investment last year on the back of decent quarterly growth, thanks to well preserved political stability and economic fundamentals.
Investment and Downstream Minister Rosan Roeslani said in a press conference on Friday that total investment grew by 20.8 percent last year compared to the previous year.
“[The realization] is a reflection of investor confidence. [...] The investors maintain confidence under Prabowo [Subianto’s presidency]. The message that I received from [the investors] is that we always have been able to maintain peace and stability,” Rosan said at his Jakarta office.
In nominal terms, Indonesia raked in Rp 1.7 quadrillion (US$105 billion) in investment last year, a respectable jump from Rp 1.42 quadrillion in 2023. Last year’s figure exceeded Rp 1.65 quadrillion target set by former president Joko “Jokowi” Widodo.
“So, this is a very…very good number and very…very delightful,” Rosan said after revealing that 2.45 million jobs were created from last year’s total investment.
Some Rp 900 trillion or 52.5 percent of the total realization was foreign direct investment (FDI), and the remaining Rp 814 trillion or 47.5 percent of the total originated domestically.
Singapore contributed most FDI to Indonesia at $20.1 billion last year, followed by China, including Hong Kong, at $16.3 billion, Malaysia at $4.2 billion and the United States at $3.7 billion.
