Indonesia gets US$18.7b in direct investment since Widodo took office

[JAKARTA] Indonesia has attracted US$18.7 billion worth of prospective investments from domestic and foreign investors since the new President Joko Widodo took office in October, its Investment Coordinating Board said.

Most of the investments were in import substitution industry, maritime and mineral processing plant, the board said in a statement on Thursday.

During the first nine months of the year, Indonesia recorded 342.7 trillion rupiah (US$27.44 billion) worth of domestic and foreign direct investment, according to data from the investment board. This was 75.1 per cent of its target.

In the third quarter this year, Indonesia drew US$6.4 billion foreign direct investment, a 16.9 per cent growth from last year.

The data excludes investment in oil, gas and banking sector.

REUTERS