The Jakarta Post
In a much anticipated development, Asian powerhouse China has become a top investor in Indonesia as it outpaces older rivals.
Realized investment from Chinese companies in Southeast Asia’s biggest economy rose to US$2.6 billion last year, from $628.3 million in 2015, according to full-year investment data released by the Investment Coordinating Board (BKPM) on Wednesday.
This result improved China’s position from the ninth-largest investor to the third, beating traditional major investors such as Malaysia, the Netherlands and South Korea.
Amid slow domestic and global economic growth, total investment from 121 countries rose 12.4 percent to Rp 612.8 trillion (US$45.97 billion) in 2016 from the previous year.
Sector wise, 2016’s investment biggest figure was largely driven by funds channeled into the chemical and pharmacy sector, followed by food, ele...