Foreign Direct Investment in Indonesia Up 30% in 2nd Quarter
Indonesia’s foreign direct
investment rose 30.2 percent on an annual basis to Rp 56.1 trillion ($5.92 billion) in the second quarter, the government
said on Wednesday, showing the G-20 member remains a magnet for
investors in a troubled global economy.
The year-on-year increase in FDI was stable with the 30.3
percent reported for the first quarter of 2012, mostly supported
by investment in mining and base chemicals.
Indonesia, bolstered by upgrades to investment grade status
by two rating agencies, has drawn strong portfolio and foreign
direct investment in recent years.
Firms have been looking to
tap abundant natural resources and booming middle class spending
in Southeast Asia’s largest economy.
Last year, Indonesia’s total FDI was a record Rp 175.3 trillion, up 18 percent from 2010, and government policymakers
have been relying on continued investment and domestic
consumption to keep the economy growing by more than 6 percent
year at a time exports are flagging.