1、Asia investment research A Joint Publication From China Investment Research and Dezan Shira&Associateswww.asiainvestmentresearch.orgTracking Global Investment Flows Into China&Asia May 2023 Issue AIR A GUIDE TO INDONESIAS FOREIGN INVESTMENT TRENDS&KEY INFRASTRUCTURE PROJECTS Asia investment research

2、 TABLE OF CONTENTSIntroduction3Indonesia FDI 20224Indonesian Digitisation Venture Capital6Indonesia Major Infrastructure Projects 11ASEAN 2022 IPOs-Indonesia led 16Indonesia Energy Transition:leadership at G20/ASEAN 20Indonesias INA SWF a Different Sort of SWF 24Nusantara-Hugely Aspirational 26Indon

3、esias Positive Investment List:Sectors Open and Restricted to Foreign Businesses28Incentives for Doing Business in Indonesia33An Overview of Indonesias Double Tax Avoidance Agreements42An Overview of Indonesias Free Trade Agreements45Indonesia Issues Incentives for New Capital City Project50 INDONES

4、IA|2023 ASIA BRIEFING2Asia investment research INTRODUCTIONMuch has been written about Indonesias 2022 successes-record inbound FDI and highest GDP growth since 2013,driven by booming commodity prices(thermal coal,palm oil and nickel)combined with a rebound in household consumption following lifting

5、 of COVID 19.While 2023 and 2024 GPD is expected to slow for a number of reasons,by 2030 Indonesia,which is already the largest economy in Southeast Asia is on track to become the worlds 7th-largest economy,overtaking Germany and the United Kingdom.Therefore,we focus this paper analysis on specific

6、areas of current and near term future growth:Mapping US$50+billion in 2022-2023 inbound investment from East Asia,GCC and G7,focussed on infrastructure,renewable energy,NEVs and semiconductors;Digitisation/VC-we use the 2022 version of the Google,Temasek and Bain study as an base to track inbound 20