Indonesia’s Promise: CEOs are confident but cautious

February 22, 2024

‘So long as they maintain political stability and reasonably good government, Indonesia will get money for investment. They’ve got consumers who want more of everything.’

‘Prabowo will win, which wouldn’t necessarily be bad for business.’

‘The government has a big bet on downstreaming minerals into manufacturing. It won’t work unless they clear up all the other problems that go on in manufacturing.’

Chinese investment fueled a 27% jump in FDI into Indonesia last year, and per capita income is on track to soon reach middle-income country status of US$7,000 – when demand for consumer products takes off. However, shadows remain on the economic outlook tied to uncertainties surrounding the upcoming elections, persistent corruption, and problematic industrial policies.

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