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RoK becomes Indonesia’s third top source of FDI

The Republic of Korea (RoK) was Indonesia’s third top source of foreign direct investor (FDI) in the first quarter of this year, data from investment board BKPM showed.
RoK becomes Indonesia’s third top source of FDI ảnh 1Illustrative photo (Source: VNA)

Jakarta (VNA) – The Republic of Korea (RoK) was Indonesia’s third top source of foreigndirect investor (FDI) in the first quarter of this year, data from investmentboard BKPM showed.

The board’s chief,Bahlil Lahadaliaau, said automaker Hyundai Motor of the RoK started the construction of a factory to make electric vehicles in Indonesia, with total investmentamounting to 22 trillion rupiah (1.5billion USD).

Singapore and Chinaremained the first and second biggest sources, respectively.

FDI into Indonesiarose 14 percent in rupiah terms in the first three months of 2021 on the yearto stand at 111.7 trillion rupiah (7.72 billion USD), the board said.

Including domesticinvestment, total direct investment in the first quarter amounted to 219.7trillion rupiah, up 4.3 percent from the year-earlier period.

Thisshows things have begun to stabilise, the board’s chief, Bahlil Lahadalia,told an online news conference.

Thisshows the trust the world has for Indonesia and foreign investors’ activitieshave begun to normalise and have begun to adapt with the development of theCOVID-19 pandemic, he added./.
VNA
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