Indonesia 2Q21 FDI rise 19.6% y/y

• Foreign direct investment (FDI) into Indonesia surged +19.6% y/y basis in 2Q21 in rupiah terms, the country’s investment ministry said, the highest rise in over five years.
• Total FDI in 2Q21 stood at IDR116.8tr (USD8.06bn), excluding FDI into banking and the oil and gas sector.
• The 2Q21 FDI growth was the strongest since 4Q15, according to Refinitiv data.
• With domestic investment, total direct invest in the second quarter stood at IDR223tr, up 16.2% from 2Q20.
• However, it was noted rising COVID-19 cases and stricter coronavirus curbs beginning in Jul 21 will likely affect the 3Q21 figures.
• The ministry aims to attract total direct investment of IDR900tr in 2021, from domestic and foreign sources. In 1H21, 49% of the target had been reached.
• Investors have made commitments for later in 2021, including a IDR5.2tr investment by U.S. agribusiness giant Cargill Inc expected by Nov 21.

External Link : https://finance.yahoo.com/news/1-indonesia-q2-foreign-direct-052635220.html/