Indonesia attracts 22.4 billion USD investment in Q1
Indonesia has amassed 328.9 trillion IDR (22.4 billion USD) in investment in the first quarter of this year, up 16.5% year-on-year, according to the country's Investment Minister Bahlil Lahadalia.
Indonesia's Investment Minister Bahlil Lahadalia.(Photo: ANTARA)
Jakarta (VNA)ꦯ – Indonesia has amassed 328.9 trillion IDR(22.4 billion USD) in investment in thefirst quarter of this year, up 16.5% year-on-year, according to the country's Investment MinisterBahlil Lahadalia.
Despite the fact that 2023 is posing various challenges as itprecedes the 2024 general election, investors’ confidence in Indonesia is very high,Bahlil said at a recent press conference. Indonesia’s investment policy will remain consistent no matterwho will succeed President Joko Widodo, he added. Foreign direct investment (FDI) accounted for 53.8% of thetotal investment over the reviewed period, amounting to 177 trillion IDR. Basic metal, metal products, non-machinery, and its equipmentindustry took the lion’s share of investment coming to Indonesia. The industryattracted 46.7 trillion IDR in the first quarter of 2023. According to the official, Indonesia has been actively seekingFDI through negotiating with potential investors from major trading partners, recentlywith the signing of agreements with German chemical company BASF and automobilemanufacturer Volkswagen relating to electric battery production projects,adding that the groundbreaking for the 2.6 billion USD project in partnershipwith BASF will begin in the second half of this year. Indonesia targets to attract investment worth 1.400 trillion IDRthis year./.
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Indonesia's Investment Minister Bahlil Lahadalia.(Photo: ANTARA) 
