Southeast Asia's largest economy could enjoy as much as $200 billion in future investment following a credit ratings upgrade by S&P Global Ratings, Indonesia's Minister of National Development Planning Bambang Brodjonegoro told CNBC on Wednesday.
"Now that we have this investment grade rating, I believe there's more than $100 billion or $200 billion in potential investment, not only in government bonds but also stocks and corporate bonds."
Out of the three leading rating agencies, S&P was the last to deem Indonesia's sovereign ratings as investment grade. The firm had long denied Jakarta the coveted status amid concerns over weak government revenue collection but in a decision last month, S&P finally changed its tune, citing reduced fiscal risks. Countries with higher ratings typically enjoy cheaper borrowing costs.
"During my days as finance minister, I remember when we visited some investors, they always asked when we would be getting investment grade from S&P," Brodjonegoro said on the sidelines of the Nomura Investment Forum in Singapore.