Indonesia's ban on foreign investment in industries reduced from over a hundred to five

Indonesia's Minister of Investment and Downstream, among others, said that investment is key to economic growth and that the government prioritizes increasing the flow of quality investment, with President Prabowo targeting economic growth of 8%.Currently, Indonesia's economic growth is driven by domestic consumption (contribution rate of 53-54%), investment (about 24-35%), government spending (about 8%-9%) and imports and exports (each about 2%), and the growing openness to foreign investment, the negative list of industries for foreign investment has been greatly reduced. Luhut, chairman of the National Economic Council, said that despite the global challenges, Indonesia's economy grew 5.2% last year, the future is optimistic that the future is expected to reach 6% in 2024, but also focus on reforms, improve efficiency to enhance economic competitiveness. Indonesia's economy is sound, low debt to GDP ratio, budget deficit of 2.5%-3%, large room for growth.