Indonesia's FDI touches nearly 28 bln USD in 2018

Source: Xinhua| 2019-01-30 17:21:07|Editor: Xiang Bo
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JAKARTA, Jan. 30 (Xinhua) -- Indonesia logged a total of 392.7 trillion rupiah (27.86 billion U.S. dollars) foreign direct investment (FDI) last year amid global economic uncertainty, the country's investment coordinating board announced here on Wednesday.

That compares with a total of 430.5 trillion rupiah (30.54 billion U.S. dollars) FDI in the presiding year, chairman of the board Thomas Trikasih Lembong said.

"Lacking of execution of policies and obstacles coming from global are factored in the slowing of inflows of investment," he said at the board headquarters.

For this year, particularly after the presidential and parliamentary polls in April, Lembong said, the FDI is looked to edge up.

The improvement of the single submission system would also be a factor in the acceleration of flows of FDI, he said.

"I am upbeat over the acceleration of the investment, cyclically it will be usually slow before the election, but it will be faster after that," he said.

Most of the investment last year parked in the sectors of electricity, gas and water, transportation, warehouse and telecommunication, mining and property, he said.

The government plans to relax restriction on foreign ownership in 49 business sectors, a move which aims to lure more foreign investment to park into the country.

Geothermal and telecommunication network sectors will still be available for full foreign investment.

President Joko Widodo has undertaken a massive improvement in rules, procedures and incentives.

The Southeast Asia's biggest economy is expected to expand 5.17 to 5.2 percent in 2018 after growing 5.07 percent in 2017.