Foreign direct investment (FDI) in Indonesia rose 164 percent in the January-May period from a year ago, helped by strong investment in telecoms and transport, the state investment agency said on Monday. Reporting by Muhamad Al Azhari, editing by Sugita Katyal in Reuters (06/16/08).The agency, also known as BKPM, said FDI rose to $9.78 billion in the first five months from $3.70 billion in the same period a year ago.
The telecommunications and transport sectors accounted for investments worth $6.55 billion. Comparative investment figures for the sectors for last year were not available.
"They are really promising industries," Muhammad Lutfi, the agency's chief, told reporters on the sidelines of a parliamentary hearing.
The BKPM data does not cover industries such as oil and gas, banking and insurance.
FDI rose 73 percent to $10.3 billion last year while domestic investment climbed almost 70 percent to 34.9 trillion rupiah on the back of political stability and strong economic growth. ($1 = 9,320 rupiah)
source: BKPM | 19 June 2008
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