FDI in ASEAN rising, still dropping in RI<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
While investment flows into Indonesia remains negative, flows
\nto other ASEAN countries are showing signs of rising, with
\nrealized foreign direct investment (FDI) in the region at US$1.95
\nbillion during the first half of 2002.<\/p>\n
According to a report issued by the secretariat office of the
\nAssociation of South East Asian Nations, the above figure was
\nslightly higher than $1.94 billion posted in the same period in
\n2001. The figure excludes Singapore and Myanmar, which do not
\nprovide half-year data.<\/p>\n
\"It shows (the region's) resilience in the light of the global
\nFDI slowdown,\" the report said. It also added that Philippines,
\nMalaysia and Vietnam topped the list of countries in the region
\nthat lured FDI the most during the first semester of the year.<\/p>\n
The three countries drew $1.3 billion, $730 million and $450
\nmillion respectively.<\/p>\n
In a stark contrast, Indonesia continued to see massive
\ndisinvestment during the period, extending the downward trend
\nthat began in 1997.<\/p>\n
Some $1.1 billion of approved investments were withdrawn as of
\nJune, as compared to $3.3 billion worth of withdrawals posted for
\nall of 2001.<\/p>\n
Noordin Azhari, ASEAN Secretariat's director of economic
\ncorporation said that in order to counter the declining trend of
\nglobal FDI stock, ASEAN members must develop a resilient domestic
\neconomy that can withstand external factors.<\/p>\n
\"We have to proceed with our regional economic integration
\nthrough AFTA, by reducing tariff and non-tariff barriers and
\nenhancing trade facilitation by harmonizing standards and customs
\nprocedures to generate intra-ASEAN trade and investments.<\/p>\n
\"All these will spur economic growth and help attract FDI
\ninflows...,\" Noordin said.<\/p>\n
AFTA is the regional free trade area.<\/p>\n
FDI in ASEAN<\/p>\n
(in US$ million)<\/p>\n
-------------------------------------------------------------
\nCountry 1997 1998 1999 2000 2001 2002*
\n--------------------------------------------------------------
\nBrunei 701 573 747 549 526 216
\nCambodia 168 120 143 111 112 17
\nIndonesia 4,678 (365) (2,745) (4,549)(3,278) (1,172)
\nLaos 86 45 51 34 24 22
\nMalaysia 6,323 2,714 3,895 3,787 554 731
\nMyanmar 878 683 304 208 192 NA
\nPhilippines 1,261 1,718 1,734 1,354 1,537 1,342
\nSingapore 12,836 8,214 12,825 5,389 8,583 NA
\nThailand 3,626 7,433 6,149 3,280 3,780 334
\nVietnam 2,587 1,700 1,483 1,289 1,300 450
\n-------------------------------------------------------------<\/p>\n
Total
\n($ billion) 33.1 22.8 24.5 11.4 13.3 1.95
\n-------------------------------------------------------------
\n* As of June
\n() stands for disinvestment
\nSource: ASEAN Secretariat<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/fdi-in-asean-rising-still-dropping-in-ri-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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