Investment in Indonesia surged in the third quarter thanks to robust growth in domestic direct investment (DDI), despite the slowdown in foreign direct investment (FDI).

According to Indonesia’s Investment Coordinating Board (BKPM), total investment jumped 23 percent year-on-year to top 100.5 trillion Rupiah (8.9 billion USD) in from July to September, despite the capital outflows and financial market turbulence.

Manufacturing and services are the two most attractive sectors to foreign investors coming into Indonesia, accounting for 76 percent of the total FDI in the reviewed period.

Soaring investment in the third quarter has brought the total figure in the nine-month period to 293 trillion Rupiah, making the annual investment target of 390 trillion Rupiah more achievable. BKPM chairman Mahendra Siregar said this is an important signal showing that Indonesia, amid the bleak global economic outlook, remains a major destination for investment.

BKPM hopes to secure 450 trillion Rupiah in investment in 2014, a 15 percent increase compared to this year.-VNA