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Indonesia to open up more sectors to foreign investment

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/02/2016 (17:41)
According to media reports, Indonesia is planning to open up previously closed sectors to foreign investment. Minister Tom Lembong stated that Indonesia’s economic growth may rise to 5.2% this year on the back of higher foreign investments and government spending on infrastructure. The government will reportedly announce the sectors to be opened to foreign capital following a cabinet meeting on February 10.

Indonesia’s Committee for Acceleration of Infrastructure Provision Priority (KPPIP) has determined 30 priority projects to receive further supervision until 2019, according to local media reports. The 30 projects include three refinery projects, Bontang Oil Refinery, RDMP/Existing Refinery Revitalization and the Tuban Oil Refinery.

In 2015, investments climbed 3% while Indonesia’s economy grew 4.79%, the slowest annual growth rate since 2009. Meanwhile, foreign direct investments rose 7% on a quarterly basis in the October-December period.
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