JAKARTA: Foreign direct investment (FDI) into Indonesia in the final quarter of last year rose 6.4% to 105.3 trillion rupiah ($7.72 billion), but not enough to meet the 2019 target, data from the country’s investment board showed on Wednesday.
FDI in the October-December quarter was equivalent to $7 billion, according to the board’s data. The board uses the government’s formal assumption of 2019 average rupiah exchange rate, at 15,000 a dollar, for its conversion.
For the whole of 2019, there was 423.1 trillion rupiah of FDI into Southeast Asia’s largest economy, equivalent to $28.2 billion, or 87.5% of the full-year target.
Base metal, utilities and mining sectors were the biggest beneficiaries of FDI in the fourth quarter. China, Hong Kong and Singapore were the top sources of FDI.
The FDI data does not include investment in banking and oil and gas sectors. -Reuters
source https://www.thesundaily.my/business/fdi-into-indonesia-rises-64-in-q4-investment-board-LM1943962
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