Indonesia’s 2018 FDI seen falling to $11 billion-$13 billion: investment board

JAKARTA (Reuters) – Incoming foreign direct investment to Indonesia is expected to be around $11 billion to $13 billion this year, less than the average in recent years of $20 billion per year, a senior official said on Thursday.

Thomas Lembong, chief of the Indonesia Investment Board, said the decline, which could reach as much as 40 percent – is “quite significant”, and blamed lack of policy reform momentum at the start of this year.

Lembong, however, said reform had picked up pace in recent months, including the upcoming revision of the negative investment list, following the rupiah’s depreciation. The list specifies business activities which are either entirely closed or conditionally open to foreign investment.

Foreign direct investment in Indonesia fell for the second straight quarter in July-September from a year earlier.

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