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Jakarta Post

Europe, Middle-East among regions poised to offset decreasing investments from China

  • Made Anthony Iswara

    The Jakarta Post

Jakarta   /   Tue, March 10, 2020   /  12:34 pm
The Jakarta Post Image
Business permit applicants wait at the BKPM One-Stop Integrated Service Office in Jakarta.(JP/Ricky Yudhistira)

The Investment Coordinating Board (BKPM) is setting its sights on alternative sources of foreign direct investments (FDI) because it expects the COVID-19 outbreak is about to cause a sharp decline in the flow of investments from China, Indonesia’s second-largest foreign investor. BKPM head Bahlil Lahadalia said the agency was still calculating the investment realization figures for the first quarter, which would be announced in April. Nevertheless, he named Europe, the Middle East, South Korea, Japan and Singapore as some potential FDI sources to cushion the potential decrease from China. “We shouldn’t be too pessimistic in the midst of the coronavirus. We will find markets in other countries,” Bahlil told reporters after a press conference in Jakarta on March 6. The BKPM wrote in a press statement on Thursday that the coronavirus has caused a decline in ...