Singapore, the Largest Investor in Indonesia in 2024

According to data from the Indonesian Investment Ministry/Investment Coordinating Board (BKPM), total foreign direct investment (FDI) in Indonesia reached Rp900.2 trillion in 2024.

Investment Minister/Head of BKPM Rosan Roeslani stated that Singapore remained the largest investor in Indonesia, with realized FDI amounting to US$20.07 billion.

"Singapore has consistently held the top spot for the past 10 years," Rosan said in an online press conference on Friday, January 31, 2025.

Following Singapore, investments from Hong Kong reached US$8.2 billion and China US$8.1 billion.

"This has shifted slightly; usually, China was second and Hong Kong third, but now the figures are almost identical," Rosan noted.

Malaysia ranked fourth with a total investment of US$4.2 billion last year, achieved thanks to Lotte's entry into Indonesia.

The United States followed in fifth place with realized FDI of US$3.69 billion.

Below is a complete list of the top 10 countries with the largest realized FDI in Indonesia throughout 2024:

1. Singapore: US$20.07 billion
2. Hong Kong: US$8.2 billion
3. China: US$8.1 billion
4. Malaysia: US$4.2 billion
5. United States: US$3.69 billion
6. Japan: US$3.4 billion
7. South Korea: US$2.98 billion
8. Netherlands: US$1.9 billion
9. British Virgin Islands: US$772.9 million
10. United Kingdom: US$745.4 million