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Jakarta Post

Foreign investments flow to neighbors instead of Indonesia: World Bank

  • Marchio Irfan Gorbiano and Riska Rahman

    The Jakarta Post

Jakarta   /   Tue, September 10, 2019   /  07:56 am
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Indonesia is struggling to attract foreign investments, which are instead going to neighboring countries such as Vietnam and Cambodia as they embark on deregulation and policy solutions, according to the World Bank. “Businesses are moving out of China but are not coming to Indonesia because Indonesia’s neighbors are more welcoming,” reads a slide from the World Bank presentation material conveyed to President Joko “Jokowi” Widodo last week, a copy of which was obtained by The Jakarta Post. “Moving factories from China to Indonesia is risky, complicated and would take at least one year if not more, while the process is certain and much shorter in Vietnam, Thailand, Malaysia, Singapore and Taiwan.” Indonesia’s net foreign direct investment (FDI) inflows only accounted for 1.9 percent of gross domestic product (GDP) last year, co...