Indonesia Forecasts 4% Growth in Manufacturing Sector in 2021 due to Increased Investment and Exports

The Government of Indonesia has forecast nearly 4% growth of the manufacturing sector in 2021, following a slump in 2020, as the country prepares for its COVID-19 vaccination programme, according to media reports.

Agus Gumiwang Kartasasmita, Minister of Industry, stated that the positive outlook of the manufacturing industry was based on increased investment as well as promising export figures despite the COVID-19 pandemic severely impacting the industry in 2020. Agus noted that all manufacturing subsectors were anticipated to grow, provided that the pandemic was brought under control and economic activity recovers.

According to the Indonesian Investment Coordinating Board (BKPM), realized investment in the manufacturing industry amounted to IDR 201.9 trillion (USD 1...