Singapore Becomes Indonesia's Largest Investor in Q1 2024

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Nabilah Muhamad 30/04/2024 12:44 WIB

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The Indonesian Investment Coordinating Board (BKPM) reported that Singapore was the largest source of foreign direct investment (FDI) in Indonesia in Q1 2024, with investment reaching US$4.2 billion.

Top 5 Countries with the Largest Foreign Direct Investment (FDI) in Indonesia (Q1 2024)

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Top 5 Countries with the Largest Foreign Direct Investment (FDI) in Indonesia (Q1 2024)

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According to data from the Indonesian Investment Ministry/Investment Coordinating Board (BKPM), Singapore was the largest investor in Indonesia in the first quarter of 2024, with foreign direct investment (FDI) reaching US$4.2 billion.

Investment Minister/BKPM Head Bahlil Lahadalia stated that Singapore maintains its top position because it serves as a hub for investors looking to invest in Indonesia. Hong Kong followed with US$1.89 billion in realized FDI.

“This is an extraordinary acceleration; this time, Hong Kong surpassed China, which usually ranks second,” said Bahlil in a press conference on his YouTube channel on Monday, April 29, 2024.

China followed with US$1.87 billion in realized FDI, followed by the United States with US$1.1 billion, and Japan with US$1 billion.

Realized FDI in Indonesia during the first quarter of 2024 reached Rp204.4 trillion, a 15.5% increase year-on-year (yoy). This represents 50.9% of the total realized national investment of Rp401.5 trillion.

By sector, the largest realized FDI in the first three months of the year was in the basic metal industry, metal goods, excluding machinery and equipment, at Rp48.1 trillion.

This was followed by the transportation, warehousing, and telecommunications sector at Rp47.9 trillion; the mining sector at Rp42.3 trillion; the housing, industrial estates, and office sector at Rp29.4 trillion; and the food industry at Rp29 trillion.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Singapore Becomes Indonesia's Largest Investor in Q1 2024

Singapore Becomes Indonesia's Largest Investor in Q1 2024

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Singapore Becomes Indonesia's Largest Investor in Q1 2024

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