In a recent press conference held on Monday, April 29, 2024, Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia revealed a staggering figure: Rp204.4 trillion in foreign direct investment (FDI) had been realized in the first quarter of 2024. This marked a remarkable growth of 15.5% year-on-year, a testament to the enduring confidence of investors under the leadership of President Joko Widodo (Jokowi), as stated by Lahadalia himself.
Amidst global economic uncertainties and lack of certainties, Lahadalia expressed gratitude that Indonesia’s FDI remained robust. This resilience, he emphasized, highlights the unwavering trust and belief of investors in the Indonesian economy.
Delving into the specifics, the largest chunk of FDI was directed towards the subsector of basic metal industries, metal goods, non-machinery, and equipment, amounting to US$2.7 billion. Following closely were investments in the mining subsector with US$1.4 billion, and transportation, warehousing, and telecommunications with US$1.2 billion.
Moreover, notable contributions came from the chemical and pharmaceutical industries, as well as the paper and printing industry, each attracting investments of US$1.1 billion and US$1.0 billion respectively.
Geographically, West Java emerged as the frontrunner in attracting FDI, recording an impressive US$2.7 billion. It was followed by Central Sulawesi with US$1.7 billion. The third largest recipient was DKI Jakarta with US$1.5 billion, followed by East Java with US$1.1 billion, and North Maluku with US$1.0 billion. Lahadalia’s comprehensive breakdown sheds light on the dynamic landscape of foreign investment in Indonesia, showcasing the diverse sectors and regions that continue to attract substantial capital inflows. This buoyant performance not only underscores Indonesia’s attractiveness as an investment destination but also reinforces its position as a key player in the global economy.
