Jakarta, 19 February 2025 - Anindya N. Bakrie, Chairman of Indonesian Chamber of Commerce and Industry (KADIN) and CEO of Bakrie & Brothers, said Indonesia has the right momentum to achieve its ambitious 8% economic growth over the next few years on the back of strong domestic consumption, strong leadership, and the economy of scale.

“Indonesia has the right momentum but trust momentum as well with President Prabowo in place,” he said, noting that Indonesia is among other countries such as the United States and India where the business community still sees a growth story.

Anindya Bakrie was speaking at the panel titled, "Looking Ahead: Investing to Indonesia’s Growth Potential" on the second day of the Indonesia Economic Summi (IES) at Shangri-La Hotel in Jakarta, Indonesia.

He was sharing the stage with Hashim Djojohadikusumo, Founder of Arsari Group and Presidential Special Envoy for COP29, who was even more optimistic of the country’s growth trajectory as he expects Indonesia to surpass 8% economic growth target.

“I am much more optimistic. I’m actually very optimistic that we will surpass 8% This is not even talking about high tech but basic needs,” he said.

According to Hashim Djojohadikusumo, President Prabowo Subianto’s programmes that cover basic needs such as the free nutritious meals and housing are adding huge stimulus to the economy. He quoted the Ministry of National Development Planning’s (Bappenas) estimation that the budget spent for the free nutritious meal can add 0.86% of economic growth in the first year of its implementation.

To propel Indonesia onto a higher growth trajectory, it is imperative to boost both domestic and foreign investments in productive sectors. Ridha D.M. Wirakusumah, CEO of Indonesia Investment Authority (INA), said Indonesia has all it needs to attract much-needed investment. He noted that Indonesia has things to be improved, including the low contribution of manufacturing to the economy.

Indonesia reported a realized investment of IDR of around IDR 1,714 trillion in 2024, a 21% rise from 2023. Domestic direct investment was IDR 814 trillion, accounting for 47.5%, while Foreign Direct Investment (FDI) was IDR 900 trillion, accounting for 52.5% of the total investments.

The Indonesia Investment Authority, or INA, is the country’s first sovereign wealth fund with the aim of driving sustainable development and attracting foreign investments to boost economic growth.

“When we talk about FDI, some say FDI is nescesarry, some say it’s nescesarry evil. Go back to INA’s example. INA has invested about $4 billion with 14 countries partners. To be able to bring in those money, we need to be able to show where is to invest,” he said.

Tadashi Maeda, Chairman of the Board, Japan Bank for International Corporation (JBIC),also noted that Indonesia has been included in the lines of most prominent countries in the world just behind countries such as India, Vietnam, and the US.

JBIC has been supporting various sectors and projects in Indonesia, including supporting renewable energy projects, promoting economic development through loans and investments, enhancing supply chain resilience and infrastructure developments.

About the Indonesia Economic Summit (IES): The Indonesia Economic Summit (IES) is an annual initiative of the Indonesia Business Council (IBC). Initiated as a high-level forum for collaboration and innovation, IES seeks to promote competitiveness, inclusive growth, and sustainable prosperity for Indonesia. This forum reflects IBC’s commitment to advancing Indonesia’s role in the global economic arena.

About the Indonesian Business Council (IBC): The Indonesian Business Council (IBC) is an association of CEOs and business/industry leaders of leading companies in Indonesia, established in February 2023. IBC seeks to promote and strengthen Indonesia’s competitiveness, encourage collaboration, and enhance the contribution of the Indonesian private sector to economic growth and prosperity, through advocacy. For media inquiries, please contact:
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