Indonesia sees record investments

JAKARTA - Agence France-Presse

Indonesia’s foreign direct investment hit a record high in the third quarter, a signal the biggest economy in Southeast Asia remains strong despite global financial woes, a top investment official said yesterday.

The third quarter’s FDI rose 22 percent to $5.9 billion, or 56.6 trillion rupiah, compared to the same period last year, the Investment Coordinating Board said on its website.

 The top contributors come from the chemical and pharmaceutical industry, mining and telecoms Total investment realization since the beginning of 2012 is 229.9 trillion rupiah ($23.9 billion), consisting of domestic investment of 65.7 trillion rupiah ($6.8 billion) and foreign direct investment realization of 164.2 trillion rupiah ($17.1 billion).

Indonesia’s rich natural resources and a growing middle class help maintain growth in the sprawling archipelago which posted 6.5 percent last year.

The head of the Investment Coordinating Board, Chatib Basri, said this figure boosted optimism that Indonesia could hit 300 trillion rupiah, or $31.2 billion, this year, exceeding its end-year target of $283.5 trillion rupiah.