"We hope that this meeting will have a significant impact in the medium-long term as investments coming in to the country," Economist from Universitas Indonesia (UI) Fithra Faisal Hastiadi said to the G20 Communications and Media Team on Friday, Nov 11.

For the short term, he added, the attendance of state guests will also propel the economy as they will spend their budget on various sectors.

UI research shows that state guests attending the G20 are estimated to spend up to Rp10 trillion for various purposes. The Leaders' Summit has a far greater impact than other events such as the annual meeting of the World Bank, International Monetary Fund (IMF), and the Asian Games.

Fitrah added that Indonesia's economic performance during the pandemic was lagging behind neighboring countries such as Thailand, Malaysia, and Vietnam. The G20 is the right momentum for investors to see firsthand the improving condition of Indonesia.

Indonesia's position in the G20 Presidency strengthen the country’s position as a viable investment destination. "The Government must be able to encourage confidence and create legal certainty for investors to start their business in Indonesia," he said.

Harry Su ,Managing Director of Equity Capital Market from PT Samuel International said that it is the right time to showcase Indonesia’s potentials to investors

In the third quarter (Q3) of 2022, investment realization grew by 42.1 percent compared to the same quarter the previous year. The largest contribution was from foreign investment (Penanaman Modal Asing/PMA) amounted to Rp168.9 trillion or 54.9 percent. The rest came from domestic investment (Penanaman Modal Dalam Negeri/PMDN) amounted to Rp138.9 trillion or 45.1 percent of the total investment.

Based on Statistics Indonesia (BPS), after household consumption of 50.38 percent, investment made the second largest contribution to economic growth throughout the Q3 of 2022 with 28.55 percent. The third largest one was government consumption with 7.57 percent.