JAKARTA: Indonesia’s foreign direct investment (FDI) approvals dropped 35% to US$9.74bil in 2002 from US$15.06bil the prior year, government figures showed. State investment agency BKPM said just over 1,000 new projects were approved last year, down from 1,180 in 2001.
Many investors have reduced their exposure to Indonesia since the country plunged into political and economic turmoil in the late 1990s and have remained wary ever since. Investors were further alarmed after the bombings on Indonesia’s resort island of Bali last October which killed nearly 200 people. – Reuters
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