RI saw 20.5 percent investment increases last year

A high official has stated that total foreign and domestic investments in Indonesia in 2011 reached Rp 251.3 trillion (US$27.4 billion), a 20.5 percent increase from 2010’s Rp 208.5 trillion.

“It shows very good development amid the persistent economic crises in the US and Europe,” Investment Coordinating Board (BKPM) chairman Gita Wirjawan said Thursday as quoted by Antara news agency.

Gita explained that foreign investment reached Rp 175.3 trillion in 2011, an 18.45 increase from the Rp 148 trillion a year before, while domestic investment reached Rp 76 trillion, a 25.61 percent increase compared to 2010’s Rp 60.5 trillion.

“The 2011 achievement was the basis for Indonesia’s rating improvement by international rating agencies Fitch Rating and Moody’s, which gave the country an investment grade,” he said.

He added that Jakarta was the largest foreign investment destination with a value of $4.8 billion, followed by West Java ($3.8 billion), Banten ($2.2 billion), Papua ($1.3 billion) and East Java ($1.3 billion).(drs/dic)