People migrating from the countryside to cities, a rising middle class and abundant natural resources are three key factors that could make Indonesia one of the world’s 10 largest economies in 2020 and among the top 6 in 2030, Standard Chartered said in a report a week ago.

Indonesia’s economic growth since the 1997-98 Asian financial crisis "has often been overshadowed by the rise of China and India," the UK bank said in a special economic report on Indonesia. "However, given its track record in recent years and the large size of its population, we believe Indonesia deserves a prominent place on the radar screen of international corporates and investors."

The lender pointed out that Indonesia, which has a population of around 240 million, is the biggest economy in Southeast Asia and is a member of the Group of 20 nations.