Mahendra Siregar, Chairman of the Indonesia Investment Coordinating Board (BKPM) said that Japan has replaced Singapore as the largest investor in Indonesia. In 2013, Japan invested USD $4.7 billion in Southeast Asia's largest economy, particularly in the automotive sector due to the sector's promising outlook as demand for cars among Indonesia's expanding middle class grows strongly. Singapore, which was the largest investor in Indonesia between 2010 and 2012, fell to second place with USD $4.6 billion worth of investments.
Siregar also stated that he believes that Japanese investments in Indonesia will continue to grow in 2014.
Largest Foreign Investors in 2013:
(in USD billion)
Source: Indonesia Investment Coordinating Board