Indonesia is experiencing a surge in initial public offerings as it strives to become an electric vehicle center by leveraging its abundant minerals needed for EV batteries.
As a result, it has outshined traditionally strong performers such as Hong Kong and Japan, securing the position of one of the world’s hottest IPO markets in 2023.
Capitalizing on its rapidly growing economy and youthful population, Indonesia has gained prominence in recent years. According to government data, the country attracted approximately $45.6 billion in foreign direct investment in 2022, a 44.2% increase compared to the previous year.
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