Switzerland and Indonesia have enjoyed strong bilateral relations since the 1950s, with agreements such as an Investment Promotion and Protection Agreement (IPPA) and a Double Taxation Avoidance Agreement (DTAA) signed to strengthen economic ties. Swiss investments in Indonesia have been steadily growing, with 118 projects valued at US$599 million in 2021. Nestlé has been operating in Indonesia since 1971 and is a household name in the country. The Indonesian government has taken steps to make the country more attractive to foreign investors and is aiming to attract US$400 billion in infrastructure projects until 2024. The new capital city of Nusantara will also present massive opportunities for Swiss companies. For Swiss investors, entering Indonesia requires having a long-term outlook to take advantage of its population size, competitive labor market, and rising incomes.
