JAKARTA, Jan 25 (Reuters) - Foreign direct investment (FDI)
into Indonesia in the fourth quarter last year rose 5.5% to
111.1 trillion rupiah ($7.92 billion), despite a slowdown
earlier in the year, data from the country's investment board
showed on Monday.
For the whole of 2020, there was 412.8 trillion rupiah
($29.44 billion) of FDI into Southeast Asia's largest economy,
down 2.4% from 2019, as companies put a hold on some investment
plans due to the coronavirus pandemic.
The annual growth in the October-December investment picked
up from the 1.1% increase in the previous quarter, the
Investment Coordinating Board (BKPM) data showed.
The fourth quarter FDI was equivalent to $7.7 billion and
for the full year $28.6 billion, according to BKPM, which uses a
formal assumption of 14,400 rupiah per dollar for its
"By the fourth quarter, the coronavirus vaccines have been
developed and that has helped with investors' confidence," BKPM
head Bahlil Lahadalia said at a virtual briefing.
The passage of Indonesia's "omnibus law" in October may also
have helped with sentiments, Bahlil added. That legislation
revised more than 70 laws in an effort to cut red tape and
streamline investment regulations.
Transportation, utilities, and base metal sectors were the
biggest beneficiaries of FDI in the fourth quarter, the board's
data showed. Singapore, China and Hong Kong were the top sources
FDI numbers do not include investment in banking and oil and
Meanwhile, data released on Sunday from the United Nations
Conference on Trade and Development showed FDI for the Southeast
Asia region contracted by 31% last year.
(Reporting by Fransiska Nangoy and Maikel Jefriando; Editing by