Indonesia Records IDR 744T in Foreign Investments in 2023

Indonesia recorded a total of 744 trillion rupiah ($47.34 billion) in foreign direct investment last year, an average annual increase of 13.7%, the Investment Ministry announced on January 24. 

However, the growth rate in the fourth quarter was prolonged at 5.3%. % compared to the previous quarter. The same period a year ago rose 16.2% in the third quarter. From October to December, total FDI reached 184.4 trillion rupees.

Data on agencies' are reported in rupees, excluding investments in the financial and oil and gas sectors. East Asia and its largest economy have seen strong FDI growth since the pandemic, with significant nickel processing industry investments.

The base metal industry received the biggest FDI last year at $11.8 billion, while mining was in fourth place with $4.7 billion. Other sectors that benefited from FDI included warehousing and telecommunications, and pharmaceutical and pulp and paper. Singapore, China and Hong Kong were the biggest FDI sources in 2023.