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Indonesia: Investments soar past $14B in 3rd quarter

Indonesia: Investments soar past $14B in 3rd quarter
Foreign investments account for just over 50% of total, latest data shows

By Iqbal Musyaffa

JAKARTA, Indonesia (AA) - Indonesia’s investment realization in this year’s third quarter increased to 209 trillion Indonesian rupiah ($14.3 billion), authorities announced on Friday.

The figure was 20 trillion rupiah ($1.3 billion) higher than the second quarter of 2020, according to the country’s Investment Coordinating Board (BKPM).

It also marked a year-on-year increase of 3.3 trillion rupiah ($224 million).

Domestic direct investment made up 102.9 trillion rupiah ($7.04 billion), or 49.2%, of the third quarter total, with foreign direct investment accounting for the remaining 106.1 trillion rupiah ($7.26 billion).

“We have been able to improve the investment climate in the third quarter of 2020. In the second quarter, investment realization only reached 191.9 trillion rupiah ($13.1 billion),” Bahlil Lahadalia, head of BKPM, said in a virtual press conference on Friday.

Overall investment from January to September this year stood at 611.6 trillion rupiah ($41.8 billion) -- 309.9 trillion rupiah ($21.2 billion), or 50.7%, in domestic investment and 301.7 trillion rupiah ($20.6 billion), or 49.3%, in foreign investment.

The amount comes to 74.8% of Indonesia’s 2020 investment realization target of 817.2 trillion rupiah ($55.9 billion).

Bahlil said investments until September have benefited as many as 861,581 workers through 102,276 projects, with the annual target being 1.2 million workers.

The most foreign investment in Indonesia from January to September came from Singapore ($7.2 billion), followed by China ($3.5 billion), Hong Kong ($2.5 billion), Japan ($2.1 billion), and South Korea ($1.1 billion), according to the latest data.

source: News Feed
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