| Embassy of Indonesia - Ottawa Canada | August 12, 2003 |
Approved FDI up 46%
|
JAKARTA (Dow Jones) : Approved
foreign direct investment (FDI) rose 46 percent in the first seven months
of the year to US$4.67 billion compared with $3.19 billion in the same
period a year ago, the Investment Coordinating Board said on Tuesday. The most popular sectors were metal, machinery and electronic industries, the board said. It didn't mention how much of the approved investment was actually new. The board said last month that $2.40 billion of the approved FDI during the January-June period was due to a reclassification of some local firms as they were being acquired by foreign investors. FDI has been in the doldrums since the 1997-98 Asian financial crisis, although levels have recovered in recent years. Last week's bombing in Jakarta, however, is likely to pour cold water on the fragile recovery. The board said planned investment by local investors declined 23 percent to Rp 11.73 trillion in the January-July period compared with Rp 15.32 trillion a year earlier. |
Source : The Jakarta Post |