Indonesian Investment at Record Levels
JAKARTA ~ Investment in Indonesia during the first 10 months of the year rose 113 percent from a year ago to a record Rp114.70 trillion (US$12.5 billion), an official said this week.
The figure, for actual domestic and foreign direct investments, exceeded the previous record of Rp111.44 trillion set for the same period in 2005, chairman of the National Investment Coordinating Board Muhammad Lutfi said.
Actual FDI in the first 10 months more than doubled to Rp81.72 trillion, against Rp40.32 trillion a year ago, he said.
Meanwhile, actual domestic investment rose 144 percent to Rp32.98 trillion.
The approved FDI proposals in first 10 months increased 177 percent to Rp330.75 trillion rupiah, while approved domestic investment grew 22 percent to Rp175.56 trillion, Lutfi said.
Investment is one of the main current drivers of Indonesia’s economic growth, along with consumption and exports.
The government is targeting 6.8 percent gross domestic product growth in 2008. Southeast Asia’s largest economy grew 6.1 percent in the first half of 2007.Filed under: Headlines