8 December 2019

Indonesia's foreign direct investment growth slows in Q1

KONFRONTASI - Foreign direct investment (FDI) into Indonesia rose 0.9 percent on an annual basis in the first quarter in rupiah terms, the investment board said on Wednesday, the weakest growth pace in at least five years according to Thomson Reuters data.

FDI growth in the previous quarter was slightly stronger at 2.1 percent on a yearly basis.

Southeast Asia's biggest economy received 97 trillion rupiah, or $7.3 billion, worth of FDI during January-March, excluding investment in banking and the oil and gas sector, said the board's chairman, Thomas Lembong.

The board used a rupiah exchange rate of 13,300 a dollar, which was assumed as the 2017 average in the government's budget. That compares with a spot rupiah trading rate of 13,280 per dollar on Wednesday morning.

The biggest beneficiaries of FDI in the first three months of 2017 were mining, base metal and property sectors. Singapore was the biggest source of investment. ($1 = 13,280.0000 rupiah)

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