Jakarta banking on FDI for economic growth
Minister says: 'We can't just rely on consumers and foreign markets.'
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Jakarta
INDONESIA'S government is counting on a surge in foreign direct investment to help cushion the impact of high interest rates at home and sluggish demand for commodities among its biggest overseas markets.
Finance Minister Bambang Brojonegoro told investors on Tuesday that renewed market confidence following efforts to roll back expensive entitlements such as fuel subsidies will draw foreign capital. Massive spending on ports, electricity and social services will help drive growth back up to rates not last seen since the tail end of the commodity boom.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
