Tue, 25 Mar 2008
Approvals of foreign investment proposals rose 19.6% on year in January, Thomson Financial reported.

They hit $1.40 billion from $1.17 billion a year earlier, data from the National Investment Coordinating Board (BKPM) showed Wednesday (19/3/08).

Domestic investment approvals in the month dropped sharply to Rp5.16 trillion from Rp61.56 trillion a year ago, according to the data.

Approved investment in transportation, storage and communication in the month reached $349.1 million with eight projects, chemical and pharmaceutical investment totaled $298.4 million with seven projects, while metal, machine and electronics investment was worth $214.8 million with none projects.

Meanwhile, actual FDI in January reached $425.5 million, up 43% from $297.5 million a year ago, while actual domestic investment dropped to Rp569.3 billion from Rp2.11 trillion a year ago.

Singapore was the biggest source of actual FDI, putting $130.2 million into 10 projects, followed by Japan with $12.9 million, the UK with $9.6 million, Belgium with $6.4 million and South Korea with $5.7 million.



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