Indonesia attracts more foreign direct investment in Q2
The flow of foreign direct investment (FDI) into Indonesia rose significantly in the second quarter of this year from tiny gains in the first three months, reported the country’s Investment Coordinating Board.
The flow of foreign direct investment (FDI) into Indonesia rose significantly in the second quarter of this year. (Photo: AFP)Jakarta (VNA) – The flow of foreign direct investment (FDI) into Indonesia rose significantly in the second quarter of this year from tiny gains in the first three months, reported the country’s Investment Coordinating Board.
FDI in the country during April-June picked up 15.5 percent year-on-year to 8.2 billion USD. Meanwhile, growth in the first quarter was only 6 percent. The incoming FDI excluded capital in banking and oil and gas sectors.
In the second quarter, Singapore was the largest investor in the country, followed by Japan and China. Most of the FDI capital was poured into basic metals, mining and public services.
Improving the business climate is among Indonesian President Joko Widodo’s key policies. The country aims to lift economic growth from 5 percent this year to 7 percent soon.
Last year, President Joko Widodo declared to open the door for foreign businesses to invest in tens of economic sectors, a move described by Chairman of the Investment Coordinating Board Thomas Lembong as the most vigorous change in the country in the past 10 years.
In an interview with Reuters earlier this month, President Widodo said Indonesia will loosen regulations on foreign investors’ ownership rights as from August.
In May, Standard & Poors (S&P) rating agency raised Indonesia's credit rating to investment grade with stable outlook. S&P said the Indonesian government has used effective measures to stabilise public finance, however, the country needs to improve management issues like corruption.-VNA
You should also see
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
See more
World
Thai central bank intervenes to stabilise currency
The Bank of Thailand (BoT) said it has intervened in currency markets at times to ease any excessive moves in the THB, adding that the current policy rate is robust and conducive to economic recovery, reported the Bangkok Post.
World
Vietnam appeals for maximum self-restraint, end to hostilities in Middle East
A representative of Vietnam appealed to all the parties concerned to exercise maximum self-restraint and to end hostilities, while addressing a United Nations Security Council (UNSC) open debate on the Middle East and Palestine situation on March 25.
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
World
Argentinian media praises Dien Bien Phu Victory
Argentinian newspapers have called Vietnam's Dien Bien Phu Victory (May 7, 1954) a symbol of the national liberation movement of oppressed and colonialised peoples worldwide.
