- The Ministry of Industry (“Ministry”) is optimistically claiming that the current economic climate in Indonesia is looking increasingly attractive to investors as a result of the government’s commitment to improving the country’s overall ease of doing business. Data supplied by the Investment Coordinating Board (“BKPM”) reveals that investment realization by manufacturing industries reached IDR 222.3 trillion in 2018, IDR 13.3 trillion of which was contributed by the chemical and pharmaceutical sectors.
- Furthermore, cooperation between the Ministry and investors from the petrochemical and steel sectors has resulted in global players such as Lotte, Posco, Nippon Steel, Osaka Steel and the Sango Corporation reinvesting in Indonesia.
- Encouraged by these successes, the Ministry will continue to push investments across five prioritized sectors under the auspices of the Making Indonesia 4.0 program. The sectors in focus encompass food and beverages, textiles and clothing, automotive, chemicals and electronics.
- In addition, the government is also pushing for the acceleration of negotiations of the Indonesia-European Union Comprehensive Economic Partnership Agreement (“IEU-CEPA”) in order to attract German automotive industries to reinvest in Indonesia.
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