Investors postpone plans over weakening rupiah, says BKPM
The Jakarta Post
The chairman of the Investment Coordinating Board (BKPM), Thomas Trikasih Lembong, has said that several investors had informed the board that they would be postponing their investment plans because of the rupiah depreciation.
Thomas said that the weakening rupiah, which was hovering at Rp 14,000 per US dollar, had caused the investors to doubt the prospects of investing in the country.
“Yes, they postponed [their investment]. They are waiting for the fluctuating rupiah to become more stable,” Thomas said in Jakarta on Thursday, as reported by kompas.com.
He said that postponing investment for six months was common among investors, as they needed to assure that their funds were safe. However, such a postponement was a big deal for Indonesia, because it would affect economy's performance over the next six months.
Thomas added that some investors had canceled their planned investment, but not because of the rupiah depreciation and instead, because of the worsening trade war between the United States and China.
“They prefer to invest in other countries, our competitors,” he said. (bbn)
- Anger at Singapore ads offering Indonesian maids for sale
- 'Cek Toko Sebelah' to be screened in Chinese cinemas
- US court rules for Colorado 'intersex' veteran denied passport
- US sanctions Chinese military unit for buying Russian jets, missiles
- Jokowi imposes moratorium on palm oil plantations
- Creator of 3-D printed guns flies to Taiwan amid US sex assault accusation
- Balinale set to return with award-winning movies, guests
- Here are 10 of the most populated cities in the world
- Tourism Ministry declares five dishes national food
- Groups welcome Jokowi’s palm plantation moratorium