Indonesia’s Q1 FDI up 16% at 204.4 trillion rupiah despite political uncertainty
Singapore retains position as country’s largest foreign investor, with about 31% of total FDI
[JAKARTA] Indonesia’s business appeal has held up despite the uncertain political climate. Foreign direct investors committed 204.4 trillion rupiah (S$17.1 billion) of approved projects in the first quarter of this year – up nearly 16 per cent from a year ago, latest data from the Ministry of Investment on Monday (Apr 29) disclosed.
South-east Asia’s largest economy enjoyed a 15.5 per cent growth in foreign direct investment (FDI) on an annual basis, driven by strong investment flows into manufacturing, infrastructure, and mineral downstreaming following the government’s ban on nickel exports.
Overall, Indonesia has received a total investment realisation of 401.5 trillion rupiah from both foreign and local sources, constituting about 24.3 per cent of the government’s annual target of 1.65 quadrillion rupiah. The total investment realisation grew 22 per cent compared with the same period last year.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
Indonesia can achieve 8% growth, President-elect Prabowo says
Indonesia’s trade surplus soars to US$3.56 billion in April, surpassing expectations
HD Hyundai expands Asia business with Philippines shipbuilding deal
No evidence of ship-to-ship transfer of Iranian oil off Malaysia: Anwar
Malaysia’s Anwar says to cut fuel subsidy at the ‘right time’
Indonesian farmers harness tech to shield crops from El Nino’s wrath