Indonesia foreign direct investment at record $7.2 billion in Q3
JAKARTA (REUTERS) - A record US$5.9 billion (S$7.2 billion) in foreign direct investment flowed into Indonesia in the third quarter, showing that Southeast Asia's biggest economy remains resilient in the face of a bleak global outlook, the country's investment board said on Monday.
In rupiah terms, total FDI in July to September rose 22 per cent year-on-year to 56.6 trillion rupiah (S$7.2 billion), after 30.2 per cent annual growth in the second quarter. The third quarter number is a record for any quarter.
Indonesia's economy is projected to grow 6.1-6.5 per cent in 2012, relying on foreign direct investment and domestic consumption as exports turn negative due to weak demand from its main trade counterparts.
The country has drawn strong portfolio funds and FDI in recent months after it regained investment grade status from two rating agencies.