The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Indonesia  
Rank: 35 · Score: 58.8  

Basic facts        
Population (millions) 275.5   IPOs and pulic issues (quartile) Top
GDP (US$ billions) 1,319.1   M&A volume (quartile) 3rd
GDP per capita (US$) 4,788.0   Venture capital investments (quartile) Top
GDP growth (per cent) 5.0   Private equity investments (quartile) Top
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 35 87, 89, 88, 89, 90 58.8
1 Economic Activity 5 118, 117, 101, 118, 120 91.8
2 Depth of Capital Market 14 104, 108, 108, 110, 111 76.9
3 Taxation 61 35, 32, 52, 56, 64 91.3
4 Investor Protection and Corporate Governance 86 44, 40, 38, 39, 39 55.3
5 Human and Social Environment 84 40, 47, 44, 44, 41 27.7
6 Entrepreneurial Opportunities 61 59, 61, 59, 60, 64 48.6


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Indonesia  
Asia
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Malaysia 84.1 76.3 93.1 94.8 42.0 72.0
Taiwan 83.3 77.1 100.9 86.0 53.5 55.9
Thailand 87.8 77.2 96.8 75.4 30.6 65.1
Indonesia 91.8 76.9 91.3 55.3 27.7 48.6
Philippines 86.8 66.7 89.0 55.5 29.9 41.6
Pakistan 77.2 56.3 67.0 60.7 29.3 48.0
Kazakhstan 80.2 40.0 102.2 78.2 29.8 44.2
Last updated: 4 Nov 2023