The Indonesian Investment Coordinating Board reported that the country recorded realization investment Rp601.3 trillion (US$28.26 billion) in the nine month of (9M) of 2019, up12.3 percent compared to 9M of 2018 of Rp535.4 trillion, said head of the agency today (07/30) - Photo by TheInsiderStories

JAKARTA (TheInsiderStories) — The Indonesian Investment Coordinating Board reported that the realization investment worth of Rp601.3 trillion (US$28.26 billion) in the nine month of (9M) of 2019, up 18.4 percent compared to 9M of 2018 of Rp535.4 trillion, said head of the agency today (07/30).

“The investment still in our targets. The realization around 75 percent of this year target,” chairman of Investment Coordinating Board, Bahlil Lahadalia, told media at his office today.

He explained, foreign direct investment (FDI) during the 9M of 2019 recorded Rp317.8 trillion, or up 17.8 percent compared to 9M 2018 Rp293.7 trillion. While, the domestic direct investment (DDI) Rp283.5 trillion or up 18.9 percent from a year ago Rp241.7 trillion.

Value of the investment realization in the third quarter (3Q) of 2019, he continued, reached Rp205.7 trillion, up 17.8 percent from same period in 2018 worth of Rp173.8 trillion. The amount of the investment realization 75.90 percent of 2019′ targets of Rp792 trillion, said the chairman.

In details the investments goes to transportation, warehouse, and telecommunication Rp39.3 trillion (19.3 percent). Then electricity, gas, and water Rp39.1 trillion (19.0 percent).

While, construction Rp16.9 trillion (8.2 percent); housing, industrial zones, and office Rp16.4 trillion); agriculture and farming Rp15.6 trillion (7.6 percent); and others Rp78.4 trillion (38.1 percent).

Based on provinces, Jakarta raised the largest investments with total amount Rp41.1 trillion, West Java Rp33.4 trillion, East Java Rp14.8 trillion, Riau Rp13.1 trillion, Central Java Rp11.1 trillion, and others Rp92.2 trillion.

Lahadalia acknowledged that this positive trend will continue in the future, especially supported by the strong determination of the government to continue economic reform, better utilization of Online Single Submission (OSS), and intensification of investment escorts by various relevant government agencies both at the center and area.

The top five countries that contribute to investment are: Singapore ($1.9 billion, 27.10 percent), Netherlands ($1.4 billion, 20 percent), Japan ($900 million, 12.90 percent), China ($1.0 billion, 14.3 percent), and Hong Kong ($400 million, 5.70 percent).

He also believed by the end of this year the realization investment could grow double digit after suffered last year and early of this year.

by Linda Silaen, Email: linda.silaen@theinsiderstories.com