Singapore Faces Recession Risk: How Much is its Investment in Indonesia?
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Singapore potentially faces a recession in 2019 as a consequence of the trade war between China and the United States (US). Bima Yudhistira, an economist at the Institute for Development of Economics and Finance (INDEF), stated that this recession could impact investment in Indonesia. This is because Singapore is the largest investor and a major gateway for investment into Indonesia.
In the second quarter of 2019, Singapore contributed US$1.72 billion, making it the largest investor in Indonesia with a total of 2,800 projects. However, this figure decreased by 0.85% compared to the first quarter of 2019, which amounted to US$1.7 billion. Compared to the second quarter of 2018, it decreased by 28.7% from US$2.4 billion.
David Samuel, Chief Economist at PT Bank Central Asia Tbk (BCA), explained that Indonesia needs to seek alternative sources of investment to continue driving economic growth this year.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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