Wed, 25 Feb 2009
From: Reuters
JAKARTA, Feb 24 (Reuters) - Foreign direct investment in Indonesia jumped 61 percent to 6.39 trillion rupiah ($536 million) in January from a year ago, the state investment agency said on Tuesday, despite the global economic downturn.

Muhammad Lutfi, investment board chairman, said that the energy, infrastructure, agri-business and agriculture sectors are the main areas expected to attract foreign investment this year.

Domestic investment rose by a third to 760 billion rupiah in January from a year ago, with total investment up 58 percent to 7.15 trillion rupiah.

Indonesia, which holds parliamentary and presidential elections this year, has tried to make its investment climate more attractive, but analysts have warned that the country, which is a major exporter of commodities such as palm oil and rubber, could see a slowdown on the back of a slide in commodity prices.

Investment in Indonesia rose 15.5 percent to $17 billion in 2008, below the target of around $20 billion rupiah, reflecting the worsening global economic conditions.

The government has announced a fiscal stimulus package, including spending on infrastructure and other projects in order to boost growth and create more jobs.

It has forecast economic growth of 4-5 percent in 2009, down from 6.1 percent in 2008. ($ 1 = 11,930 rupiah) (Reporting by Sonya Angraini; Writing by Andreas Ismar; Editing by Sara Webb)



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