China’s investment in Indonesia surges
China’s foreign direct investment (FDI) in Indonesia stood at US$1.6 billion in January – September, 2016, nearly tripling the figure from the same period last year, according to the Investment Coordinating Board of Indonesia (BKPM).
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China is currently the third biggest foreign investor in Indonesia , after Singapore and Japan.
Chinese firms are running about 1,205 projects, focusing on metallurgy, cement, and automobile.
The soaring investment from China showed the bilateral relations, especially economic ties, have been expanded, said deputy chairman of the BKPM investment supervision Azhar Lubis.
He noted that China has become the biggest trade partner of Indonesia over the past five years.
The official said he believes that China will continue to be one of the five largest investors in Indonesia with the FDI maintained at a high level.
Apart from China, Singapore’s investment in Indonesia in the first nine months increased to US$7.1 billion from US$5.9 billion in the same period of 2015.
Meanwhile, FDI from the US plunged to US$400 million from US$2.4 billion in 2013.
