The Indonesian Coordinating Investment Board (BKPM) says the country booked a total of Rp 185.3 trillion (US$13.32 billion) in investment from both domestic and overseas investors in the first quarter of 2018.
The figure marks an increase of 3.2 percent over the previous quarter and of 11 percent from to corresponding period of last year.
Singapore and Japan remained the top countries of origin for foreign investment, accounting for $2.322 billion and $996.6 million, respectively, followed by China and South Korea.
Most investors preferred to invest in the property and industrial sector (14 percent) and the metal, electronics and machinery sector (12.3 percent).
West Java and Jakarta are still the most attractive regions to invest in, as a total of Rp 65.9 trillion went to the two provinces.
BKPM head Thomas Lembong told a press conference that a series of economic reforms had contributed to the investment growth, but he added that more could be done to attract funds.
He said the government had prepared more reforms for this year, such as a revision of tax holiday regulations by the Finance Ministry, a revision of a presidential decree to simplify the processing of foreigners’ work permits and the introduction of an integrated online single submission (OSS) system. (bbn)