Foreign direct investment into Indonesia slumped 9.2% year-on-year to Rp98 trillion (USD 6.4 billion) in the March quarter of 2020, the lowest amount in 1-1/2 years, compared with a 6.4% growth in the previous period, as investors delayed business decisions due to ongoing COVID-19 pandemic. China, Hong Kong, Singapore and Japan were among the top sources of investment, with base metal, transportation and warehouse, utilities, and telecommunication were among the sectors taking beneficiaries. For this year, the country’s investment board targets to attract Rp886 trillion of investment, around 55% of which should be from foreign companies.
