Foreign investment rises 12% in first quarter

Still growing: A major construction project in Jakarta’s business district. Singapore was the source of the highest amount of FDI in Indonesia in the first quarter. — AFP

JAKARTA: Indonesia has seen respectable growth in foreign direct investment (FDI) in the first quarter of this year as realised funding reached a quarter of the government’s full-year target, while domestic investment grew even faster.

Investment and Downstream Minister Rosan Roeslani revealed in a press briefing on Tuesday that the first-quarter FDI amounted to 230.4 trillion rupiah or about US$13.7bil, which marks a 12% year-on-year (y-o-y) increase.