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Five Indonesian Provinces Most Attracted by Foreign Investors in Semester I/2023

foreign investment in indonesia
Five Indonesian Provinces Most Attracted by Foreign Investors in Semester I/2023. Image Source:

The Ministry of Investment/Investment Coordinating Board reported that during January-June 2023 or semester I/2023, West Java Province is the main location for the realisation of foreign investment (PMA).

Minister of Investment/Head of Investment Coordinating Board (BKPM), Bahlil Lahadalia, said that the total PMA that entered West Java was worth US$4.5 billion or the equivalent of Rp67.5 trillion with a share of 18.3 percent. In total, West Java received investments worth US$6.91 billion during semester I/2023, with more than half of it being an injection of foreign capital and the rest coming from within the country.

Furthermore, Central Sulawesi ranks second with a total incoming of US$3.7 billion with a share of 14.9 percent.

Central Sulawesi is due to downstream nickel,” he said in a recent press conference, quoted on Sunday, 23rd July 2023.

DKI Jakarta ranks third with the highest PMA realisation, amounting to US$2.6 billion, then followed by Banten with a foreign investment worth US$2.2 billion, and East Java in fifth position with the total PMA throughout the semester I/2023 of US$2 billion.

In line with the high investment in downstream natural resources, Lahadalia noted that the main sectors attracted by foreigners were the Basic Metal, Metal Goods, Non-Machinery, and Equipment Industries. The sector pocketed foreign investment worth US$5.4 billion or 22.1 percent of other sectors’ investments.

Meanwhile, Singapore is still the country that provides the largest investment, which reached US$7.7 billion.

Not all money is from Singapore, but Singapore is used as a hub, while some of this investment is actually Indonesian money,” explained Lahadalia.

In semester I/2023, the United States was recorded as the fifth largest country investing US$1.6 billion domestically.

In general, Lahadalia recorded that foreign investment or PMA during the semester I/2023 was worth US$24.22 billion. This amount covers 53.5 percent of the total investment during the period.

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