Indonesia targets $50b investment in 2013

JAKARTA - Indonesia's government is targeting 390 trillion rupiah (S$49.5 billion) in total investment in 2013, 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, or over US$31 billion (S$37.9 billion) in 2013, Chatib Basri told Reuters in an interview.

Indonesia attracted a record US$5.9 billion in foreign direct investment in the third quarter. The higher forecast for 2013 signals that Southeast Asia's biggest economy remains a hot favourite despite a bleak global outlook and worries about corruption and regulatory uncertainties.