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Jakarta Post

Food industry can weather global economic shock: BKPM

  • The Jakarta Post

Jakarta   /   Fri, May 29 2020   /  01:00 am
Permission applicants are seen at the BKPM One-Stop Integrated Service, Jakarta, in this file photo.(JP/Ricky Yudhistira)

The food industry is considered stable enough to weather the global economic shock, backed by strong domestic investment, the Investment Coordinating Board (BKPM) says. The industry recorded the highest investment realization figure in the secondary sector compared to other industries in the past five years, until as recent as the first quarter of 2020, totaling Rp 293.2 trillion, BKPM data show. The figure is higher than the base metals industry and the chemical and pharmaceutical industry. Domestic investment dominates the industry, with Rp 7.3 trillion (US$494.6 million) from January to March this year, compared to $298 million in foreign direct investment (FDI) in the same period. “Compared to the two other sectors, only the food industry records higher domestic investment than foreign investment. We are sure that this industry will be quite stable from the shocks...