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Japanese companies will invest $5.6 billion in Indonesia, following President Joko Widodo’s visit to Tokyo, the head of Indonesia’s investment board said.
Toyota Motor will invest $1.6 billion while Suzuki Motor will increase its planned investment by $1 billion, Franky Sibarani, chairman of the Investment Coordinating Board, said in a press release on Thursday, without giving a timeline.
Southeast Asia’s largest economy also attracted $3 billion in Japanese commitments for other industries including textiles, steel, fisheries and power, Sibarani said, adding that the commitments will be realised this year.