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Industrial investment regains pace in 2016
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Long-term investment: Manpower Minister Hanif Dhakiri (left to right), State-Owned Enterprises Minister Rini Soemarno, Industry Minister Airlangga Hartarto, Research and Technology and Higher Education Minister Muhammad Nasir, Coordinating Economic Minister Darmin Nasution, Coordinating Human Development and Culture Minister Puan Maharani and Culture and Education Minister Muhadjir Effendy show a gesture of unity on Nov. 29 after signing a memorandum of understanding on joint efforts to improve the vocational education system. (JP/Anton Hermansyah)
D
espite a global economic slowdown, Indonesia managed to see investment in the industrial sector increase by 41.6 percent year-on-year (yoy) to US$18.7 billion during the first nine months of the year, a minister said on Thursday.
Industry Minister Airlangga Hartarto said that foreign investment still dominated investment in the industrial sector, with $13.09 billion in foreign money coming into the sector from January to September, a 53.6 percent increase compared to the figure in the same period last year.
(Read also: Indonesia upbeat over $43b investment target)
Domestic investment, meanwhile, increased by 19.6 percent yoy to Rp 75.41 trillion ($4.69 billion).
"Investment is a growth engine for the sector," Airlangga said during the minstry’s year-end press conference.
Last year, Indonesia saw foreign investment in the industrial sector drop by 25.8 percent to $11.76 billion compared to 2014. (hwa)
