Indonesia’s construction industry forecast to expand by 5.2% this year
Indonesia’s construction industry will expand by 5.2% in 2024, according to a report by Research and Markets - the world's largest market research store.
Jakarta (VNA) – Indonesia’s construction industry will expand by 5.2% in 2024, according to a report by Research and Markets - the world's largest market research store.
The "Indonesia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report showed that the expansion is supported by rising foreign investment and an improvement in business confidence and economic conditions.
It cited the Badan Pusat Statistik (BPS)’s data as saying that the value-add of the construction industry rose by 7.6% year-on-year in the first quarter of 2024.
Over the year, the industry's growth will be supported by an allocation of 422.7 trillion IDR (27.7 billion USD) on infrastructure projects as part of the 2024 Budget approved in late 2023.
Of this, 213.7 trillion IDR will be invested to construct regional roads, developing the new capital city, renovating stadiums, and building educational and healthcare infrastructure, while 20.3 trillion IDR will be invested in developing infrastructure in the new autonomous regions and supporting public-private partnerships.
Over the remainder🌟 of the forecast period, from 2025 to 2028, the construction industry is expected to register an average annual growth of 6% in real terms, supported by public and private sector investment in transport, energy, and residential construction, coupled with the government's plan to achieve an annual production capacity of 600,000 electric vehicles (EVs) by 2030./.
Indonesian President Joko Widodo on July 31 held a meeting with several ministers in Jakarta to discuss the acceleration of oil and gas production in the country.
Indonesia is planning to roll out incentives for cars with hybrid engines, said Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto.
Indonesia has finalised regulations for the implementation of carbon capture and storage (CCS), reinforcing its commitment to reducing global carbon emissions.
Startup ASEAN platform brings all stakeholders together under one digital roof, expected to promote open innovation, improve access to capital, and strengthen ASEAN’s position as a dynamic and connected innovation powerhouse.
Indonesia as an appealing destination for investment in energy transition. It is Southeast Asia’s largest energy consumer and the region’s fourth most populous country. However, the majority of the country's existing power plants still rely on fossil fuels.
The Vietnam Trade Office in Singapore urged all Vietnamese firms trading with Singapore to seriously comply with its legal regulations, particularly customs requirements.
The Grandma Island soccer team was about to go to compete for Setokok Island, Batam city. In the middle of the trip, the boat was hit by waves and overturned.
Mexico's Nuevo León leaders underscored the state’s keen interest in partnering with ASEAN – a region known for dynamic economic growth, a young population, an expanding middle class, and a growing role in global supply chains.
Thailand has imposed a comprehensive ban on electronic waste imports as it grapples with a burgeoning e-waste problem. A 2021 report from the Pollution Control Department revealed that the country generates over 400,000 tonnes of domestic electronic waste annually.
Phuket airport authorities said the incident did not affect flights or airport operations, and security personnel are also stepping up surveillance in public areas, with CCTV covering all the airport area.
The facility will integrate multiple components, including mining operations, a smelter, high-pressure acid leach (HPAL) processing, and production of precursors and cathodes.
A participant in the Malaysia Economic Forum 2025 said despite challenges, there are significant opportunities in AI, digital transformation, and green technologies, requiring the country to balance both risk and potential thoughtfully.
Themed “emerging trends in terrorism and violent extremism”, the event drew over 200 participants from domestic and international agencies, discussing the rapid evolution of terrorism and the need for stronger regional and global cooperation.
Indonesia aims to start nuclear power generation by 2034, with a government roadmap already in place to develop small modular reactors (SMRs) with capacities ranging from 300 to 500 megawatts.
The package, endorsed on June 24, comprises 481 projects designed to boost GDP by an additional 0.4% and generate temporary employment for about 7.4 million people nationwide.
An Indonesian official emphasised that energy security is extremely essential amid global geopolitical and economic fragmentation, highlighting the need for the energy industry to strengthen resilience and responsiveness in the face of fluctuating oil prices and the shift to clean energy.
ASEAN must deepen collaboration through platforms such as the ASEAN Senior Officials Meeting on Transnational Crime (SOMTC) to ensure regional responses keep pace with the rapidly evolving cyber threat landscape.
Speaking at the launch of the Indonesia Economic Prospects June 2025 edition on June 23 in Jakarta, Turk noted that Indonesia’s gross domestic product (GDP) expanded 4.9% in the first quarter of 2025 compared to the same period last year.
