BUSINESS Indonesia records nearly 60 bln USD in 2019 investment

BUSINESS

Indonesia records nearly 60 bln USD in 2019 investment

Xinhua

20:24, January 29, 2020

JAKARTA, Jan. 29 (Xinhua) -- Indonesia's Investment Coordinating Board (BKPM) said on Wednesday that the total direct investment in the country throughout 2019 reached 809.6 trillion rupiahs (59.37 billion U.S. dollars), up 12.2 percent from that in the previous year.

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File photo: VCG

The investment in 2019 surpassed the target set in the government's medium-term development plan for the 2015-2019 period at 792 trillion rupiahs (58 billion U.S. dollars).

BKPM data showed that domestic direct investment (DDI) grew 17.62 percent year-on-year from that in 2018 to 386.5 trillion rupiahs (28.3 billion U.S. dollars), and foreign direct investment (FDI) rose 7.74 percent year-on-year to 423.1 trillion rupiahs (31 billion U.S. dollars).

According to the data, Singapore remained the largest foreign investor in Indonesia last year, with investment valued at 6.5 billion U.S. dollars for 7,020 projects.

China was the second-largest with investment worth 4.7 billion dollars for 2,130 projects, followed by Japan as the third largest with 4.3-billion-U.S. dollar investment for 3,835 projects.

BKPM also reported that the labor absorption rate grew 7.68 percent to 1.03 million people last year.

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