Indonesia: Foreign direct investment rises 14% y/y in 1Q21

• Foreign direct investment (FDI) into Indonesia rose 14% y/y in IDR terms in the first three months of 2021, data from investment board BKPM showed on 26 Apr 21.
• FDI stood at IDR111.7tr (USD7.72bn) for 1Q21, it added.
• Including domestic investment, total direct investment in 1Q21 amounted to IDR219.7tr, up 4.3% from the year-earlier period.
• “This shows things have begun to stabilise,” the board’s chief, Bahlil Lahadalia, told an online news conference.
• “This shows the trust the world has for Indonesia and foreign investors’ activities have begun to normalise and have begun to adapt with the development of the COVID-19 pandemic,” he added.
• South Korea was the third top source of FDI after automaker Hyundai Motor started building a factory to make electric vehicles, he added.
• Singapore and China remained the first and second biggest sources, respectively.
• The base metal industry was the biggest beneficiary of FDI.

External Link : https://www.reuters.com/article/idUSL1N2MJ079