FMCG multinational Unilever has announced the investment of $500 million over the next five years to expand in Indonesia.
The investment is planned to be used to increase production capacity at the company’s nine factories across Indonesia. The spend will be mainly used to focus on home and personal care, as well as food and refreshments, according to information.
A growing economy is one of the reasons cited by the firm for the investment. Hemant Bakshi, president director of Unilever Indonesia, said: “The huge and young population of Indonesia (numbering about 260 million people), growing welfare, and still relatively low local consumption of the company’s products are the key factors that will encourage good growth for the company on the long term”.
Source: Indonesia Investments