The Ministry of Investment/ Investment Coordinating Board (BKPM) has announced that the manufacturing sector was the largest contributor to ASEAN investment in Indonesia from 2018 to 2022, excluding the upstream oil and gas sector and financial services, report Republika.
Nurul Ichwan, Deputy for Investment Promotion at the Ministry of Investment/ BKPM said at the HSBC ASEAN Day event, in Jakarta, Monday that “this is mainly from the three ASEAN countries that have the largest investment in Indonesia;” Singapore with a total investment of USD 48.2-billion: Malaysia USD 8.9-billion, and Thailand USD 1.51-billion.
Nurul explained, there are five main sectors for Singapore’s investment in Indonesia, namely the steel industry worth USD 8.63-billion, real estate worth USD 7.09-billion, transportation and storage worth USD 6.04-billion, the food industry worth USD 4.2-billion, and mining worth USD 4.18-billion.
For Malaysia, investments in the transportation and storage sector amounted to USD 2.94-billion, the chemical industry USD 2.16-billion, the food industry USD 1.2-billion, the plantation and livestock sector USD 720-million, and the paper industry USD 316-million.
Thailand’s five main investments in Indonesia are the chemical industry worth USD 882-million, the rubber industry worth USD 175-million, mining worth USD 143-million, the food industry worth USD 85-million, and trade and repairs USD 70-million.
Republika are reporting that Nurul said the secondary sector, which processes raw materials from the primary sector and the secondary sector into other goods of higher value, for example the manufacturing sector, contributes 43-percent of the total investment (USD 24.93-billion.) While the primary sector contributed 16-percent or USD 9.43-billion. The tertiary sector (the production is not in physical form, but in the form of services, for example the trade sector) contributed 41-percent or USD 23.52-billion.