RoK becomes Indonesia’s third top source of FDI hinh anh 1Illustrative photo (Source: VNA)

Jakarta (VNA) –
The Republic of Korea (RoK) was Indonesia’s third top source of foreign direct investor (FDI) in the first quarter of this year, data from investment board BKPM showed.

The board’s chief, Bahlil Lahadaliaau, said automaker Hyundai Motor of the RoK started the construction of a factory to make electric vehicles in Indonesia, with total investment amounting to 22 trillion rupiah (1.5 billion USD).

Singapore and China remained the first and second biggest sources, respectively.

FDI into Indonesia rose 14 percent in rupiah terms in the first three months of 2021 on the year to stand at 111.7 trillion rupiah (7.72 billion USD), the board said.

Including domestic investment, total direct investment in the first quarter amounted to 219.7 trillion rupiah, up 4.3 percent 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./.