On Monday (29/4), Investment Minister Bahlil Lahadalia announced that Indonesia recorded IDR 401.5 trillion (EUR 27.7 billion) worth of investment in the first quarter of 2024, marking a 22% increase compared with the same period last year. Foreign direct investment (FDI) grew at a slower pace than domestic investment (15.5% vs 29.7% year-on-year), but still accounted for over half of the total. The FDI growth also dipped compared to the same period last year (20.2%), which analysts attribute to a wait-and-see stance from foreign investors prior to the February general election and a high base effect from previous years. The metal processing, a sector likely benefiting from Indonesia's focus on downstreaming industries, followed by logistics, and mining sectors received the most investment. The food and beverage sector also saw a surge, driven by domestic investment in crude palm oil (CPO) processing. Singapore, Hong Kong, and China were the top foreign investors in this period. Investment Minister Lahadalia stated that Indonesia is on track to meet its 2024 investment target, having already achieved nearly a quarter of the goal in the first quarter. He admitted that Indonesia still needs to address much homework to attract investment and remains hopeful that the country can attract further investment in downstream industries and other big-ticket projects, including from electronics giant Foxconn that Indonesia has been pursuing for years. Bahlil also noted that investment in Q1 2024 created a record high of 547,419 new jobs.Link di fonte: https://jakartaglobe.id/business/indonesia-records-125-billion-foreign-investments-in-q12024 (ICE GIACARTA)

Fonte notizia: Jakarta Globe, 29 April 2024