Jan-Oct Foreign Investment Doubles

Foreign direct investment (FDI) doubled in the first ten months from the same period a year ago, partly due to strong investment in sectors such as telecoms and transportation, the state investment agency (BKPM) said on Tuesday, Reuters reported.

Actual foreign investment rose 103% to $9.08 billion in January-October.

Analysts cited by Reuters said the increase came amid improving investor confidence and against a backdrop of falling interest rates and a largely stable currency.

Actual investment in the transportation, warehouse and telecommunications sector was worth a total of $3.3 billion.
FDI approvals rose 177% to $36.75 billion in January-October from the same period last year.

Actual domestic investment rose 144% to Rp32.98 trillion ($3.60 billion) in January-October from a year ago. Domestic investment approvals rose 22% to Rp175.56 trillion in the same period.

The paper and printing industries contributed Rp14.55 trillion to the total of actual investments.

"The (total) actual investment during the January-October period was a record high," Bisnis Indonesia quoted BKPM chairman quoted Muhammad Lutfi as saying.
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