Wednesday, March 19, 2008
Indonesia's January FDI Approvals Up 19.6% Year on Year
Source: Antara

Jakarta - Indonesia's foreign direct investment (FDI) approvals by value in January rose 19.6 percent to 1.40 billion US dollars from 1.17 billion a year earlier, data from the National Investment Coordinating Board (BKPM) showed Wednesday.

Domestic investment approvals in the month dropped sharply to 5.16 trillion rupiah from 61.56 trillion a year ago, according to the data.

Approved investment in transportation, storage and communication in the month reached 349.1 million US dollars with 8 projects, chemical and pharmaceutical investment totaled 298.4 million dollars with 7 projects, while metal, machine and electronics investment was worth 214.8 million dollars with 9 projects.

Investment in trade was worth 146.3 million dollars with 64 projects and agriculture and plantation investment was valued at 101.4 million with 4 projects.

The dominant investment approvals based on location were in West Java province with 412.2 million dollars, the Greater Jakarta area with 411.3 million, East Kalimantan province with 99 million, Riau province with 95.2 million and Banten in the western part of Java with 80.5 million.

Japan was the biggest source of approved FDI in January, putting 166.4 million dollars into 9 projects, followed by Malaysia with 149.6 million dollars, the UK with 107.9 million dollars, Singapore with 84.9 million dollars and South Korea with 67.2 million dollars.

Meanwhile, actual FDI in January reached 425.5 million US dollars, up 43 percent from 297.5 million dollars a year ago, while actual domestic investment dropped to 569.3 billion rupiah from 2.11 trillion rupiah a year ago.

Singapore was the biggest source of actual FDI, putting 130.2 million dollars into 10 projects, followed by Japan with 12.9 million dollars, the UK with 9.6 million dollars, Belgium with 6.4 million dollars and South Korea with 5.7 million dollars.