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.