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Jakarta Post

RI auto industry remains attractive: Fitch Solutions

  • Dzulfiqar Fathur Rahman

    The Jakarta Post

Jakarta   /   Sat, May 30 2020   /  08:30 am

The Indonesian automotive industry remains attractive for current and future investment in the region with low labor costs and favorable production growth, Fitch Solutions has stated.According to the Fitch Solutions Autos Production Risk/Reward Index (RRI), the low cost of labor remains Indonesia’s main key strength, reflected in the average wages score of 83.9 out of a possible 100.In general, Indonesia’s score has slightly increased to 58.4 from 54.1 in the previous quarter, making it the eighth-most attractive country for automakers in the region and 23rd worldwide.“This means that the country still ranks in the top-10 most attractive destinations for automakers to begin or maintain vehicle manufacturing operations in the Asian region and 23rd globally,” Fitch Solutions stated in its commentary published on May 22.Car sales have been severely hit by the COVID-19 pandemic, fall...