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Indonesia posts 19pc increase in non-oil, non-gas investment

JAKARTA (XINHUA) – Indonesia’s non-oil and non-gas manufacturing industry has recorded a 19 per cent increase in investment, or worth IDR324.5 trillion (USD22.6 billion) in 2021 amid the COVID-19 pandemic, the country’s Industry Minister Agus Gumiwang Kartasasmita said yesterday.

The number went up from the 2020 investment valued at USD19 billion and was higher than USD20.2 billion the government targetted in 2021.

According to data from the Indonesian Investment Coordinating Board (BKPM), the manufacturing investment was still dominated by foreign investment at USD15.8 billion.

“The increasing number has proven that investors still consider that Indonesia is good for business and investment. This is an important momentum for economic improvement in Indonesia in the post-pandemic period,” Kartasasmita said in a written statement.

Workers attend a production line at a shoe factory in Tangerang, Indonesia. PHOTO: AFP