The Investment Coordinating Board (BKPM) recorded foreign investment of US$4.8 billion in the digital economy last year.
“The realization, however, may take place over several years,” said BPKM head Thomas Lembong during a press conference in Jakarta on Tuesday as reported by kontan.co.id.
The figure indicates an annual growth of 30 to 50 percent in start-up firms, he added.
He said start-ups had become the target of foreign investment.
Thomas further said total foreign investment reached Rp 692.8 trillion ($51.75 billion), last year, higher than the target of Rp 678.8 trillion stated in the 2017 state budget.
He said the figure excluded investment in the digital economy as the BKPM had yet to determine the types of businesses that could be included in the digital economy category.
“Is Go-Jek a portal or transportation firm? We will work on this over the next three years,” he added. “Maybe only 10 percent of [the investment in the digital economy] is included in the total foreign investment.” (bbn)