Indonesia's FDI Rises 22% in Q3


Indonesia's foreign direct investment rose 22 percent in the third quarter from one year ago, after posting 30 percent growth at the previous quarter, the investment board told reporters on Monday, driven by the base chemical, mining, and transportation industries. Total FDI in July to September gained 22 percent year-on-year to Rp 56.6 trillion ($5.9 billion), after 30.2 percent annual growth in the second quarter. Indonesia's economy is projected to grow 6.1-6.5 percent in 2012, relying on foreign direct investment and domestic consumption. The country has drawn strong portfolio funds and FDI in recent months after it regained investment grade status from two rating agencies. Indonesia recorded total FDI of Rp 175.3 trillion in 2011, rising 18 percent from a year earlier.