Indonesia's FDI plunges in Q1 due to Covid-19 pandemic

An official wearing a face mask sorting out the packs of food to be distributed to residents affected by the coronavirus outbreak in Bekasi on the outskirts of Jakarta, Indonesia, on Monday (April 20). - AP

JAKARTA: The value of the foreign direct investment (FDI) in Indonesia edged down significantly in the first quarter as the Covid-19 (coronavirus) pandemic has halted global investment.

The Indonesian Investment Coordinating Board (BKPM) on Monday (April 20) said that the country's FDI dropped by 9.2% on the yearly basis to 98.1 trillion rupiahs (US$6.33bil) in the first quarter.

"During the Covid-19, don't be too pessimistic. Let's pray for the termination of this pandemic," said the board's head Bahlil Lahadalia.

Indonesia reported the first Covid-19 case in March.

The virus kept spreading rapidly across the country, forcing Indonesian authorities to apply partial lockdowns in the country's capital of Jakarta and some other cities across the archipelagic nation, hemming in business activities.

The outbreak has killed 582 people and infected 6,575 others in Indonesia, the Health Ministry said on Sunday.

Southeast Asia's biggest economy is projected to expand 2.3 percent this year, tumbling down from a 5.02-percent growth last year, according to Finance Minister Sri Mulyani Indrawati. - Xinhua/Asian News Network
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Did you find this article insightful?


33% readers found this article insightful

Next In Regional

Covid-19: Cases up by 1,109, bringing total to 61,861 (updated daily)
China tops world in AI patent filings, surpassing the US for the first time
SAIC Motor, an early adopter of the smart car, sets up US$1bil fund to invest in Internet-linked vehicles with Alibaba
Dating apps see matches bloom in India
He and his young accomplices hunted women on social media – the ‘sextortion’ ring case roiling South Korea
China’s ‘wild era’ of Internet may be ending as new personal data protection law seeks to curb Big Tech’s control over user data
WeRide robotaxis gain loyal passengers but fixed pick-up, drop-off spots irk some, survey shows
China demands India rescind app ban
China says no ‘money worship’ in online shopping, live shows
Work from home revolution is a surprise boon for India’s women

Stories You'll Enjoy