Singapore remains largest investor in Indonesia in 2020: BKPM

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Singapore remains largest investor in Indonesia in 2020: BKPM

A screenshot of BKPM chief Bahlil Lahadalia during a press conference on investments in the battery industry on December 30, 2020. (ANTARA/Ade Irma Junida)

Jakarta (ANTARA) - Singapore remained the largest investor in Indonesia last year, with investments totaling US$9.8 billion, according to the Investment Coordinating Board (BKPM).

Next was China with an investment of US$4.8 billion, followed by Hong Kong with US$3.5 billion, Japan with US$2.6 billion, and South Korea with US$1.8 billion, BKPM chief Bahlil Lahadalia said during an online press conference on Monday.

He specifically highlighted the investments made by Japan and South Korea.

In the fourth quarter of 2020, South Korea invested US$699.5 million, overtaking Japan, which pumped in US$453.7 million as the fourth largest investor in Indonesia. But overall, Japan was still ahead of South Korea in terms of foreign investors in Indonesia last year.

"In the fourth quarter (of 2020), South Korea was ahead of Japan. But cumulatively, Japan was ahead of South Korea. The difference (in their investment) is small — US$800 million," Lahadalia informed.

The competition between the two countries will get tighter in 2021, he said, without elaborating on which country is likely to invest more in Indonesia.

In the October-December, 2020 quarter, Singapore still ranked first with an investment of US$2.6 billion, followed by China (US$1.3 billion), Hong Kong (US$1 billion), South Korea (US$699.5 million), and Japan (US$453.7 million).

He further disclosed the next top five investors in Indonesia last year: the Netherlands, Malaysia, the United States, Taiwan, and Australia

"The Netherlands is also interesting since they (are expected to) serve as a European hub in the future," he said. 


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