Pursuing Investment Target of Rp 900 Trn

By Editorial Team 28/10/2021
Indonesian trade campaign
Summary

The Indonesian Investment Ministry revealed that the total foreign investment in Indonesia in the third quarter could only reach Rp 216.7 trillion or down 2.8 percent quarter-over-quarter but up 3.7 percent year-on-year (YoY). The housing sector, industrial estates, and offices recorded the largest investment figure of Rp 28.1 trillion or about 13 percent. The transportation, warehouse, and telecommunications sectors are in second place with a contribution of Rp 26.6 trillion or about 12.3 percent.

The rising data center trend supports investment in the telecommunications sector. "We are currently building a lot of data centers and telecommunications infrastructure because the government wants remote areas to get a decent telecommunications access," Bahlil Lahadalia, Investment Minister/Head of the Investment Coordinating Board (BKPM), explained on Wednesday. Singapore is still the largest foreign investor in Indonesia. Foreign Direct Investment (FDI) from Singapore in the third quarter reached US$2.56 billion, accounting for 26.4 percent of the total FDI. Hong Kong is in second place with US$852.9 million, followed by Japan (US$715 million), China (US$595.6 million), and the United States (US) (US$509.9 million).

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