Indonesia's Q1 FDI up 15.5% on Yearly Basis

FOREIGN DIRECT INVESTMENT - JAKARTA. Foreign direct investment into Indonesia rose 15.5% on a yearly basis in rupiah terms to 204.4 trillion rupiah ($12.59 billion) in the first quarter, investment ministry data showed on Monday, up significantly from the 5.3% growth in the previous quarter.

The data excludes investment in financial and oil and gas sectors.

Including domestic sources, Southeast Asia's largest economy saw a total of 401.5 trillion rupiah worth of direct investment, creating over 540,000 jobs, the ministry said.

Indonesia has seen a boom in investment in mining and refining of metals after it banned exports of nickel ore in 2020 and other metal ores in 2023.

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The biggest beneficiaries of FDI in the January-March period were the base metal, mining, as well as transportation, warehousing and telecommunication sector.

Singapore, Hong Kong and China were the biggest sources of FDI.