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Jakarta Post

FDI bounces back in Q3, but economic outlook remains uncertain

  • Dzulfiqar Fathur Rahman

    Jakarta

Jakarta   /   Sat, October 24 2020   /  01:00 am
Permission applicants are at the BKPM One-Stop Integrated Service in Jakarta, Tuesday, December 1, 2015. The Investment Coordinating Board (BKPM) continues to perfect its 3-hour investment permit service to provide convenience for investors. After coordinating with the relevant technical ministries, investors who use the 3-hour investment permit service will receive 8 licensing products plus 1 land booking letter (if needed). Licensing products to be given to investors in the 3-hour investment permit service are investment permit, Taxpayer Identification Number (NPWP), Company Establishment Deed and Legalization Decree from the Ministry of Law and Human Rights, Company Registration Certificate (TDP), Foreign Workers Permit, (IMTA), Planned Use of Foreign Workers (RPTKA), Producer Importer Identification Number (API-P), and Customs Identification Number (NIK) .(JP/Ricky Yudhistira)

Foreign direct investment (FDI) picked up in the July-to-September period from the pandemic-induced declines recorded in the preceding two quarters.   The Investment Coordinating Board (BKPM) reported Rp 106.1 trillion (US$7.21 billion) in realized FDI in the third quarter, a 1 percent increase from the same quarter a year earlier. Singapore accounted for 33.8 percent of the figure, followed by China and Japan.   The agency reported 9.2 percent and 6.9 percent year-on-year (yoy) declines in realized foreign investment in the first and second quarters, respectively.   “This is interesting, as FDI realization has started picking up although it has not been optimal. This is in line with [domestic investment],” BKPM head Bahlil Lahadalia said at a virtual press conference on Friday.   “This means that the third quarter was the mom...