BKPM: investment in Indonesia grows 17% in the q3

JAKARTA. Indonesia's investments grew 17 percent in the third quarter of this year compared to the same period last year, the Investment Coordinating Agency (BKPM) said on Thursday.

Data from BKPM showed that the investment grew to Rp 140.3 trillion compared to Rp 119.9 trillion in the July to September period in the previous year.

Foreign Direct Investment in the third quarter grew 18.1 percent to Rp 92.5 trillion while domestic direct investment rose to Rp 47.8 trillion or up 14.9 percent from the same period in the previous year.

The total investment in the January to September period this year accelerated 16.7 percent to Rp 400 trillion.

In the first nine months, foreign direct investment rose 16.9 trillion or Rp 266.8 trillion and direct domestic investment rose 16.4 percent to Rp 133.2 trillion, according to the agency's data.

BKPM's chief Franky Sibarani said he was optimistic the agency would reach the 2015 investment target, as the current total accounted for 77 percent of the agency's Rp 519.5 trillion investment target this year.

President Joko "Jokowi" Widodo's administration focused on investments to bolster the country's economy amid the global economic slowdown and rupiah depreciation. The government had issued pro-investment policies in the past year such as the one-stop integrated service for investment permits (PTSP) and also economic policy packages expected to lure investors to the country. (Ayomi Amindoni)