Indonesia is the third most attractive investment location in the Asia-Pacific region, trailing behind the Philippines and Malaysia , said a recent survey by PT Manulife Indonesia.

According to the Jakarata Post, the survey measured Indonesia’s Manulife Investor Sentiment Index (MISI) at 48 while Malaysia and the Philippines, both received a score of 58. The average regional score was 24.

The survey shows that Indonesia’s positive economic growth over the last few years played a role in putting the country in third position.

Indonesia also saw growing investor confidence in the housing, property, stock market and financial sectors in the first quarter of 2014, thanks to the country’s recent economic performance.

Economic factors in the first quarter that drove investors’ optimism included the appreciation of the rupiah by 6.66 percent to Rp 11,361, an 11.56 percent increase of the Indonesian Composite Index (IHSG), a lowered inflation rate from 8.08 percent in 2013 to the current 7.32 percent, and a decreased current account deficit from 4.3 billion USD in the fourth quarter of 2013 to 4.2 billion USD in the first quarter of 2014.-VNA