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Indonesia targets $49.7 billion investment in 2013

Published on Nov 27, 2012 3:53 PM

JAKARTA (REUTERS) - Indonesia's government is targeting 390 trillion rupiah (S$49.7 billion) in total investment next year, up around 25 per cent from this year, as companies look to take advantage of surging consumer demand, the country's investment chief said on Tuesday.

Based on this year's figures, foreign direct investment is likely to make up over three-quarters of the total investment next year, Mr Chatib Basri said.

Indonesia attracted a record US$5.9 billion (S$7.2 billion) in foreign direct investment in the third quarter. The higher forecast for next year signals that South-east Asia's biggest economy remains a hot favourite despite a bleak global outlook and worries about corruption and regulatory uncertainties.