Indonesia Q3 foreign direct investment rises 17.8% y-o-y

[JAKARTA] Foreign direct investment (FDI) into Indonesia grew for the second straight quarter in July-September from a year earlier, the Southeast Asian nation's investment board said on Thursday.

Incoming FDI in the July-September period grew 17.8 per cent and was worth a total of 105 trillion rupiah, or equivalent to US$7 billion.

The board uses the government's formal assumption of 2019 average rupiah trading at 15,000 a dollar for its conversion. The rupiah traded in the range of 13,885-14,350 per US dollar in the third quarter.

Transport, warehousing, and communication sectors were the biggest beneficiaries of FDI in the quarter. Singapore, Netherlands and China are the top sources of FDI into Indonesia.

REUTERS