Singapore was ranked first in the ASEAN region and in the Asia-Pacific region.
The Vice President stated that Indonesia has progressed in improving its investment environment, but other countries in the region can provide better ease of doing business.
Therefore, the government will continue promoting deregulation in order to attract more FDI into Indonesia and increase its competitiveness among its neighbouring countries, he added.
Kalla also highlighted the global economic slowdown, especially in China, that has affected the investment climate in Indonesia.
According to the Capital Investment Coordinating Board in 2016, China was the third-largest investor in Indonesia, with a total of US$2.67 billion in capital, while the first position was occupied by Singapore, with US$9.18 billion, and Japan stood second, with US$5.4 billion.